Glanbia and high-protein food producer thinkThin have signed an agreement for the latter to be acquired for $217m, the parties have announced.
Following the close of the transaction, thinkThin will continue to be headquartered in Los Angeles, CA and led by Chief Executive Officer Michele Kessler. The transaction is subject to regulatory approval and is expected to close by the end of 2015.
thinkThin was founded in 1999 by Italian former model Lizanne Falsetto. She has an interesting background, having enjoyed a career in modelling and making a success as an entrepreneur despite little formal training or higher education.
She claims her product has now grown into “one of the leading brands in the nutrition bar category”.
“Through its partnership with Glanbia, thinkThin will continue to build on its dedication to promoting ‘wellness from within’ to consumers across a larger, global platform,” she continued.
Current thinkThin CEO Mchele Kessler added that Glanbia is the perfect partner for the business due to its “protein-based product expertise and strong commitment to innovation”.
“We look forward to working with the Glanbia team as we enter the next phase of thinkThin’s growth – building on our platform of nutritional bars and hot cereals and growing our passionate consumer following – while helping them expand their consumer base in the U.S,” she said.
“We are also grateful for TSG’s guidance, expertise and support, which have enabled us to achieve dramatic, profitable growth over the past few years.”