Food group Glanbia has completed its $153 million acquisition of the US sports nutrition brand Isopure.
Isopure is a US-based provider of premium branded sports nutrition products. The company focuses on powders and ready-to-drink formats, primarily through the specialty, internet and direct distribution channels.
The company generated net revenues of $74.6 million for the twelve month period to the end of July. This represents a compound annual growth rate of 20 per cent from December 2011 to the end July 2014.
Announcing the deal in September, Glanbia said the acquisition is expected to be earnings accretive from 2015 and would be funded from the group’s existing debt facilities.
"As a premium brand, the business is an excellent addition to our portfolio of market leading performance nutrition brands and provides an opportunity to leverage our infrastructure and capabilities to drive future growth. The transaction, which is firmly aligned with the group's strategy, supports our growth ambitions and will be value enhancing for our shareholders," said Glanbia's managing director Siobhan Talbot.
