Glanbia buys US protein bar seller thinkThin

Glanbia has announced that the company has agreed to buy thinkThin for $217m.

thinkThin sells protein enriched bars in the US and recorded net sales for the 12 months to the end of September 2015 of $84m, with a compound average growth rate for the previous three years of 31%.

Siobhán Talbot, Glanbia Group Managing Director, said: “I am very pleased to announce that we have reached agreement to acquire thinkThin.

"As a premium lifestyle nutrition product with very strong brand equity, thinkThin represents an excellent strategic addition to our portfolio of market leading performance nutrition brands."

Glanbia expects the sale to be complete before the end of 2015.