Harris Williams Advises SlimFast on its Pending Sale to Glanbia plc

October 11, 2018

Harris Williams, a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces the pending sale of SlimFast, a portfolio company of Kainos Capital, LLC (Kainos), to Glanbia plc (Glanbia). SlimFast is a leading brand of weight management and meal replacement products. The transaction is being led by Tim Alexander, Ryan Freeman, Andy Warczak, and David Stead of Harris Williams’ Consumer Group.

“SlimFast is one of the most recognizable weight management brands in North America and the U.K.,” said Tim Alexander, a managing director at Harris Williams. “With its 40-year history and strong momentum driven by its recent introductions of SlimFast Advanced Nutrition, SlimFast Advanced Energy and SlimFast Keto, the company is one of the fastest growing weight management brands today.”

“SlimFast’s addition to the Glanbia Performance Nutrition global brand portfolio will provide SlimFast with unique opportunities to accelerate growth through continued innovation and increased distribution into new geographies,” said Ryan Freeman, a director at Harris Williams. “We are proud to have represented SlimFast and are excited to follow the company’s future success.”

SlimFast, founded in 1977 and based in Palm Beach Gardens, Florida, offers a clinically-proven plan with delicious meal replacement protein shakes, smoothie mixes, bars, cookies, supplements, 100-calorie snacks and coffee beverages. SlimFast has clinical trials demonstrating proven weight loss. Products can be purchased at mass, grocery and online retailers, in the U.S., Canada, Mexico, U.K. and China.

Kainos is a middle market private equity firm with an exclusive focus on the food and consumer sector. The Kainos team has extensive investment and operating experience in the industry, having invested more than $2 billion of equity in more than 60 transactions with a total transaction value of more than $10 billion. The firm's strategy is to build a diversified portfolio of growing and strategically relevant food and consumer businesses that trade buyers would like to acquire.

Glanbia is a global nutrition company, grounded in nature and science dedicated to providing better nutrition for every step of life’s journey. Glanbia has deep roots in the dairy industry and has become a leading producer and marketer of quality performance nutrition products supporting active lifestyles. Its success as a global ingredients provider has been built on Glanbia’s expertise in nutritional solutions supported by significant investment in research and development. With total group revenues of €3.6 billion in 2017, 6,600 employees and a presence in 32 countries worldwide, Glanbia’s vision is to be one of the world’s top performing nutrition companies, trusted to enrich lives every day.

Harris Williams (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams’ Consumer Group has completed more than 50 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail.  For more information on Harris Williams’ Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.