Optimum Nutrition Parent Company Glanbia Aquires BSN

 

Ireland-based Glanbia plc, the international nutritional ingredients and cheese group, has acquired Boca Raton, FL-based Bio-Engineered Supplements and Nutrition (BSN), for $144 million. The business was acquired on a debt-free basis and is expected to be earnings enhancing in 2011. The acquisition was funded through Glanbia's existing banking facilities. BSN is a leading developer, provider and distributor of nutritional products designed for health, training, physique development and performance. BSN is headquartered in Boca Raton, FL, and employs 140 people in its operations. The business was previously privately owned.BSN was founded in 2001 and since then has become a leading U.S. performance nutrition business. Its products are shipped to more than 40,000 retail outlets in the U.S. and distributed in more than 90 countries worldwide. BSN products and brand have won more than 30 sports nutrition awards in the last five years and this has created excellent brand awareness and product loyalty. All its products are multi-functional and apply to a wide range of lifestyles and consumers. It is a pioneer in pre-workout powders and a market leader in this category. Another core product area is protein powders, where Optimum Nutrition (acquired by Glanbia in 2008) is a market leader. In addition, BSN provides a choice of related performance nutrition products.The Board of Glanbia believes that the acquisition of BSN significantly enhances the Group's Performance Nutrition portfolio and delivers further growth opportunities in this area.In particular, the acquisition:· Builds on the Group's scale position in the attractive, high growth, higher margin, sports nutrition sector;· Broadens Performance Nutrition's product portfolio into new categories and channels;· Represents a further step change in international growth opportunities for Performance Nutrition;· Offers innovation and new product development opportunities through combined R&D; and· Continues to develop Glanbia in line with the Group's international growth strategy.

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