FDBusiness.com

Glanbia plc, the global nutrition group, has completed its $350 million acquisition of SlimFast and other brands. SlimFast is a leading weight management and health & wellness brand family distributed primarily in the food, drug, mass and club (FDMC) channel in the US and UK. It is a well-established and growing brand with high levels of brand awareness in the US, its largest market.

In 2017, SlimFast delivered $212 million net sales, adjusted EBITDA (before non-recurring costs) of $24 million and, after non-recurring supply chain transition costs, a net loss before tax of $12 million. The gross assets of SlimFast at its 2017 financial year end were $136 million. Glanbia plans to operate SlimFast within its Performance Nutrition segment.