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Glanbia acquires Seltzer

This article was originally published in The Tan Sheet

Executive Summary

Consumer foods and ingredients firm Glanbia plc will further develop its international nutritionals business and enter "key global growth markets" through its acquisition of Calif-based Seltzer Companies, according to Glanbia's Group Managing Director John Maloney. Currently, the international firm's major U.S. presence is in the dairy market, according to Glanbia's website. The firm also produces the branded whey protein isolate BarFlex in the U.S. and has several other branded whey and milk-based ingredients. In addition to increasing its global presence, the purchase also "creates the opportunity to extend Glanbia's major investment in innovation and clinical research in nutritional products with science-based health benefits," the firm states in a Sept. 6 release. The $105 mil. transaction awaits FTC approval and Glanbia expects completion of the deal in October. Wayne Seltzer will continue to run the Seltzer business, Glanbia adds...

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