Irish global nutrition group Glanbia has signed an agreement to acquire Florida-based SlimFast, a leading weight management and health & wellness firm, for $350 million. The deal also includes SlimFast’s sister company HNS.
The SlimFast portfolio includes ready-to-drink and ready-to-mix products as well as a new Advanced Nutrition range of meal replacement shakes and smoothies and registered $212 million of net sales in 2017.
Glanbia group managing director said: “I am pleased to announce that we have agreed to acquire SlimFast, a leading consumer brand in the $8 billion weight management nutrition market, an adjacency to the Glanbia Performance Nutrition brand portfolio”.
“SlimFast is an established and enduring brand and, along with nutritional supplements brands ‘Healthy Delights’ and ‘Nu-Therapy’, complements our existing portfolio targeting lifestyle consumers”, she added. “It plays to global consumer trends focused on convenient formats and snacking”.