Glanbia (GLB)

Sector:

Food

  11.27
   
  • Change Today:
     -0.06
  • 52 Week High:  18.9
  • 52 Week Low:  9.7
  • Currency: Euro
  • Shares Issued: 296.05m
  • Volume: 29,687
  • Market Cap:  3,336.43m
  • RiskGrade: 214
  • Beta: 0.01

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   11.27
Change Today   -0.06
% Change -0.53 %
52 Week High  18.9
52 Week Low  9.7
Volume 29,687
Shares Issued 296.05m
Market Cap  3,336.43m
Beta 0.01
RiskGrade 214

Glanbia Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.75% below the market average79.75% below the market average79.75% below the market average79.75% below the market average79.75% below the market average
58.62% below the sector average58.62% below the sector average58.62% below the sector average58.62% below the sector average58.62% below the sector average
Price Trend
18.80% above the market average18.80% above the market average18.80% above the market average18.80% above the market average18.80% above the market average
44.83% below the sector average44.83% below the sector average44.83% below the sector average44.83% below the sector average44.83% below the sector average
Income
79.68% below the market average79.68% below the market average79.68% below the market average79.68% below the market average79.68% below the market average
17.65% below the sector average17.65% below the sector average17.65% below the sector average17.65% below the sector average17.65% below the sector average
Growth
34.24% below the market average34.24% below the market average34.24% below the market average34.24% below the market average34.24% below the market average
93.33% below the sector average93.33% below the sector average93.33% below the sector average93.33% below the sector average93.33% below the sector average

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 6
Sell 0
Strong Sell 0
Total 11
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
  Interim Final
Ex-Div 22-Aug-19 14-Mar-19
Paid 04-Oct-19 26-Apr-19
Amount 10.68¢ 14.49¢

Trades for 11-Oct-2019

Time Volume / Share Price
17:19 57 @  11.17
16:35 331 @  11.27
16:29 14 @  11.21
16:28 15 @  11.21
16:27 14 @  11.23

Glanbia Key Personnel

Chair Martin Keane

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