Glanbia Acquires Canadian Omega-3 Business Pizzey's Milling

11/09/07 Glanbia plc, the international dairy foods and nutritional ingredients Group, announced the acquisition of the Canadian based nutritionals business, Pizzey’s Milling. Glanbia did not give financial details for the deal but said Pizzey's had gross assets of 6.87 million euros ($9.47 million).

Pizzey’s produces and markets nutritional ingredients predominantly derived from flax seed, a primary source of plant based Omega-3 fatty acids (ALAs). The company, a leading innovator in the market, recently launched a milled flax/fish oil combination product branded MeadowPure 03 Ultra, opening the door to incorporating Omega-3’s successfully in many food applications where incorporating fish oils alone has been a challenge.
 
The existing management team, headed by Linda and Glenn Pizzey, will remain with the business, which is headquartered in Manitoba and which has an additional sales and distribution facility in Gurnee, Illinois.

The acquisition of Pizzey’s and its nutritional product portfolio enhances Glanbia’s position as a significant global nutritional ingredients supplier. Glanbia will leverage its significant investment in innovation and research, as well as its sales and marketing structure, to support development of the international market for flax ingredients and its healthy components including ALA omega-3, lignans and fibre.

“The health benefits of Omega-3’s are well known to the consumer and this acquisition marks Glanbia’s entry into a complementary sector that is exhibiting strong growth. Pizzey’s innovation in combining milled flax/fish oil is indeed a breakthrough as Omega-3’s from fish oil can now easily be incorporated into a range of food applications. The acquisition of Pizzey’s is another step forward for Glanbia Nutritionals and we welcome Linda and Glenn Pizzey and their team to Glanbia” said Jerry O’Dea, CEO/President Glanbia Nutritionals Americas.