Glanbia buys out SlimFast for €303m

KILKENNY food and nutrition giant Glanbia has agreed to buy SlimFast for a hefty €303m.

SlimFast is a weight management and health and wellness brand, distributed primarily in the food, drug, mass and club (FDMC) channel in the United States and UK.

Commenting on the Transaction, Glanbia Managing Director Siobhán Talbot (pictured above) said she was “pleased” with the acquisition.

“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.”

“It plays to global consumer trends focused on convenient formats and snacking. The transaction is in line with our strategic ambition to extend the reach of our Glanbia Performance Nutrition portfolio to related consumer needs,” Ms Talbot added.