Glanbia announces €200m purchase of US protein bar manufacturer thinkThin

Glanbia has said it has “significant” available debt facilities for further acquisitions, after reaching agreement to buy a leading US protein bar manufacturer for $217 million (€203m).

Shares in the Kilkenny-headquartered diversified dairy and food ingredients/nutrition business rose by nearly 3% yesterday, to €17.50 (although the share price finally closed slightly lower at €17.32), after it announced its intended purchase of California-based company, thinkThin.

The company makes a leading range of protein-enriched bars targeted at lifestyle consumers (mainly women) and sells through mass retail channels in the US.