Glanbia acquisition Analyst call 11 October 2018 1 Cautionary - - PowerPoint PPT Presentation

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Glanbia acquisition Analyst call 11 October 2018 1 Cautionary - - PowerPoint PPT Presentation

Sep 08, 2022 146 likes •248 views

Glanbia acquisition Analyst call 11 October 2018 1 Cautionary Statement 2 Acquisition Highlights Well-established brand in a strategic adjacency to the GPN portfolio Strong brand position in an attractive & growing global category

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SLIDE 1

Glanbia acquisition

1

Analyst call 11 October 2018

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SLIDE 2

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Cautionary Statement

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SLIDE 3

Acquisition Highlights

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Enterprise value $350 million Well-established brand in a strategic adjacency to the GPN portfolio Strong brand position in an attractive & growing global category Earnings accretive from 2019

Acquisition of SlimFast

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SLIDE 4

Attractive portfolio

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Lifestyle consumers 98% brand awareness North America and UK Primary channel FDMC

Strategic rationale

  • Meets the #1 motivation for our lifestyle consumers
  • Incremental growth category to performance nutrition
  • Provides scale in RTD and FDMC channel
  • Further opportunities for growth via innovation and distribution expansion

Acquisition of SlimFast

Nutritional Supplements Ready-to-drink (“RTD”) Ready-to-mix (“RTM”)

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SLIDE 5

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Core need of lifestyle consumers

  • Managing weight is #1 motivation
  • Nutrition with regular exercise

aligns with GPN lifestyle consumer

  • RTD and snacks most popular

formats to achieve this

  • Favoured channel FDMC
  • SlimFast has one of the highest

levels of brand awareness in the category

Source: Glanbia Capital markets day 23 May 2018

Acquisition of SlimFast

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SLIDE 6

$8bn in value

(RSV) 2018

US 33% RoW 67%

Weight management nutrition products

Large and growing Category

6

Constant Currency Global market growth rate

MSD%

Source: Euromonitor and Glanbia estimates Acquisition of SlimFast

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SLIDE 7

Financials

7

  • Purchase consideration $350m
  • Closing before the end of 2018
  • Transaction will be financed by

available banking facilities

  • A growing business at c.11%

EBITA margin

  • Earnings accretive from 2019

Acquisition of SlimFast

Adjusted EBITDA is before non recurring costs

SlimFast Financials

2017 $’m

Net Sales 212

  • Adj. EBITDA

24

  • Adj. EBITA

23

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SLIDE 8

Conclusion

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  • Strategic adjacency addressing a core

consumer need

  • Attractive growing market incremental to

Performance Nutrition

  • Great capability and scale in FDMC
  • Earnings accretive from 2019

Acquisition of SlimFast

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SLIDE 9