Glanbia (GLB)

Sector:

Food

  10.14
   
  • Change Today:
     -0.09
  • 52 Week High:  14.6
  • 52 Week Low:  7.6
  • Currency: Euro
  • Shares Issued: 296.05m
  • Volume: 4,196
  • Market Cap:  3,001.90m
  • RiskGrade: 255

Glanbia to buy SlimFast for $350m

By Michele Maatouk

Date: Thursday 11 Oct 2018

LONDON (ShareCast) - (Sharecast News) - Global nutrition company Glanbia has agreed to buy weight management and health and wellness brand SlimFast from owners KSF Holdings and HNS Intermediate Corporation for $350m.
Distributed primarily in the food, drug, mass and club channel in the US and UK, SlimFast delivered $212m net sales in 2017, adjusted earnings before interest, taxes, depreciation and amortisation of $24m and, after non-recurring supply-chain transition costs, a pre-tax net loss of $12m.

At its 2017 financial year end, SlimFast's gross assets stood at $136m.

Glanbia, which plans to operate SlimFast within its Performance Nutrition segment, said the deal should close before the end of the year and the final consideration will be dependent on the value of actual working capital at completion. The transaction will be fully financed by Glanbia's available banking facilities and is expected to be accretive to earnings per share from 2019 onwards.

Glanbia's group managing director, Siobhan Talbot, said: "I am pleased to announce that we have agreed to acquire SlimFast, a leading consumer brand in the $8bn weight management nutrition market, an adjacency to the Glanbia Performance Nutrition brand portfolio.

"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."

At 1608 BST, Glanbia shares were down 0.8% to €14.11.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Glanbia Market Data

Currency Euro
Share Price   10.14
Change Today   -0.09
% Change -0.88 %
52 Week High  14.6
52 Week Low  7.6
Volume 4,196
Shares Issued 296.05m
Market Cap  3,001.90m
RiskGrade 255

Glanbia Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
83.36% below the market average83.36% below the market average83.36% below the market average83.36% below the market average83.36% below the market average
3.45% above the sector average3.45% above the sector average3.45% above the sector average3.45% above the sector average3.45% above the sector average
Price Trend
17.30% above the market average17.30% above the market average17.30% above the market average17.30% above the market average17.30% above the market average
17.24% below the sector average17.24% below the sector average17.24% below the sector average17.24% below the sector average17.24% below the sector average
Income
85.38% below the market average85.38% below the market average85.38% below the market average85.38% below the market average85.38% below the market average
5.88% above the sector average5.88% above the sector average5.88% above the sector average5.88% above the sector average5.88% above the sector average
Growth
32.34% below the market average32.34% below the market average32.34% below the market average32.34% below the market average32.34% below the market average
17.24% below the sector average17.24% below the sector average17.24% below the sector average17.24% below the sector average17.24% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 6
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Glanbia Dividends

  Latest Previous
  Final Interim
Ex-Div 12-Mar-20 22-Aug-19
Paid 24-Apr-20 04-Oct-19
Amount 15.94¢ 10.68¢

Trades for 07-Jul-2020

Time Volume / Share Price
12:40 500 @  10.16
12:37 148 @  10.14
12:13 200 @  10.12
11:41 1 @  10.12
11:39 1 @  10.12

Glanbia Key Personnel

Chair Martin Keane

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