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Glanbia buy US nutritional firm for E50m

Thursday, July 26 12:52:10

Glanbia has acquired California-based company Aseptic Solutions Inc (ASI) for a total consideration of $60m (E49.5m).

The acquisition is funded through Glanbia's existing banking facilities.

ASI was founded in 2004 and is a manufacturer and co-packer of nutritional and dietary beverages, including vitamin shots, protein shakes and 100pc natural fruit juices.

The business operates from a state-of-the-art facility in Corona, California, and employs 175 people.

Its technology is designed to manufacture a better tasting and longer lasting product and allows the processing and packaging of liquid foods to be safe, fresh and flavourful without the use of preservatives, serving customers in both the retail and multi-level marketing sectors.

The acquisition of ASI expands Glanbia's end-to-end solutions capability as an ingredients supplier, formulator and end product manufacturer.

ASI capability is focused on key high growth trends in nutritional markets for sustainable, natural foods with nutrient integrity.

The acquisition of ASI brings aseptic processing (a process by which the sterility of a food or pharmaceutical is maintained in packaging) capability to the group.