Glanbia - New weight plan – bulking up with SlimFast

Davy Research
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Glanbia’s acquisition of the SlimFast brand is arguably its most thought-provoking since Optimum Nutrition in 2008. It is the first time that Glanbia has acquired a storied brand with mass awareness. We see deal logic on a number of levels – it facilitates entry into the adjacent weight management category, deepens GPN’s presence in the developing food, drug, mass and club (FDM) channel and up-weights its exposure to the fast-growing ready-to-drink (RTD) format. We expect Glanbia to augment the acquired portfolio via internal innovation and platform capabilities while sustaining the continued rejuvenation of the brand.