What is the story about?
What's Happening?
Glanbia, an Ireland-based nutrition company, is selling its Body & Fit online sports-nutrition business to an unnamed buyer. The decision comes as part of Glanbia's strategy to divest non-core brands following a decline in sales and volumes within its Performance Nutrition division. Body & Fit, acquired by Glanbia in 2017, offers protein powders, bars, and sports nutrition supplements. The sale is expected to be finalized in the final quarter of the year. Glanbia's Performance Nutrition unit reported a 3.8% revenue drop in constant currency terms, driven by challenges in the US club and specialty channels.
Why It's Important?
The divestment of Body & Fit reflects Glanbia's strategic shift to focus on core brands amid declining performance in its sports-nutrition division. This move is significant for the sports-nutrition industry, as it may influence market dynamics and competitive strategies. By shedding non-core brands, Glanbia aims to streamline operations and improve financial performance. The sale could also impact consumer access to Body & Fit products, potentially affecting market share and brand loyalty. Stakeholders in the nutrition industry will be monitoring the implications of this divestment on Glanbia's overall business strategy.
What's Next?
Glanbia is expected to finalize the sale in the final quarter of the year, with potential impacts on its financial performance and market positioning. The company will continue to focus on its core brands, including Optimum Nutrition, which accounts for a significant portion of its Performance Nutrition revenue. Stakeholders will be observing Glanbia's strategic moves and their effects on the sports-nutrition market.
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