TSG Consumer Partners And Lizanne Falsetto Announce Sale Of ThinkThin To Glanbia
San Francisco, CA– November 16, 2015 – TSG Consumer Partners LLC ("TSG"), a leading strategic equity investor in high-growth consumer brands, and Lizanne Falsetto, Founder of thinkThin, today announced that they have entered into a definitive agreement with Glanbia plc (“Glanbia”), the global performance nutrition and ingredients group, under which Glanbia will acquire thinkThin, LLC (“thinkThin”), a maker of wholesome protein-rich foods.
Following the close of the transaction, thinkThin will continue to be headquartered in Los Angeles, CA. The transaction is subject to regulatory approval and is expected to close by the end of 2015.
Ms. Falsetto said “thinkThin was founded on its commitment to providing consumers delicious, high protein foods. Today, thinkThin is 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.”
Michele Kessler, Chief Executive Officer of thinkThin, said “As one of the world’s leading nutrition companies, Glanbia’s strong commitment to innovation make it an ideal partner for thinkThin. We look forward to working with the Glanbia team as we enter the next phase ofgrowth of thinkThin – 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. We are also grateful for TSG’s guidance, expertise and support, which have enabled us to achieve significant growth over the past few years.”
Hadley Mullin, Senior Managing Director at TSG, said “thinkThin has gained significant market share over the past few years and has successfully expanded into new product categories with its recent launch of thinkThin Protein & Fiber Hot Oatmeal and thinkThin Protein Bites. We’ve enjoyed our productive partnership with founder Lizanne Falsetto and the thinkThin team and look forward to watching the Company continue on its strong growth trajectory as part of Glanbia.”
Ropes & Gray LLP served as legal counsel and Houlihan Lokey served as financial advisor to the sellers.