Glanbia has acquired German nutrient delivery systems company Kortus Food for €14.5 million.
Glanbia will pay €10.5 million cash and with a further deferred payment of €4 million, of which €2 million will be payable subject to a predetermined performance target.
Kortus specialises in the production, research and development of customised nutrients systems for customers in the infant formula, clinical nutrition and dietetics markets.
This acquisition is in line with Glanbia's nutritional strategy of extending its solution capability and product range, and of strengthening access to key sectors of infant and clinical nutrition.
