Glanbia Buys Denmark's Nutramino For €20m
Published on Jan 28 2014 7:40 AM in Retail
Glanbia has acquired Danish supplier of energy drinks and protein shakes, Nutramino for approximately €20 million. Nutamino supplies neat 90% of the Danish fitness market through gyms, retailers and forecourt stores, and also makes energy bars and whey body-building supplements.
The acquisition will give Glanbia a significant presence in Scandinavia, as Nutramino has operations in Norway, Sweden, Iceland, Finland and France. Founded in 2002, the Danish firm will continue to be run by founders Thomas Kjaergaard and Per Jensen. Glanbia entered the sports supplements and nutrition market in 2008 when it acquired Us company Optimum Nutrition.
The global market for sports nutrition goods is estimated at more than €5 billion. About 70 % of Glanbia’s €700 million sales in the segment come from the US, with Europe accounting for about 20%.
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