Glanbia Buying SlimFast for a Fraction of What Unilever Paid
Nov. 5, 2018
Irish nutritional firm offers $350 million to Kainos Capital.
Glanbia Plc, the former Irish dairy cooperative now a public company, in October announced a deal to buy the SlimFast business from KSF Holdings LLP (Kainos Capital) for $350 million. It's essentially the same business Unilever paid $2.4 billion for in 2000.
SlimFast has maintained some brand awareness in the U.S. and U.K. as a weight management and health & wellness brand. It had $212 million in sales in 2017. Kainos Capital bought the business from Unilever in 2014 for an undisclosed price.
Glanbia said it will fold the business into its performance nutrition division, which sells such products as whey protein for fitness and diet uses.
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