Strategic Nutritionals Acquisition

7/12/2004

Glanbia plc today announced the acquisition of the German based nutrient delivery systems company, Kortus Food Ingredients Services GmbH ("Kortus"). Glanbia has acquired the assets and goodwill of Kortus for a consideration of €14.5m, comprised of €10.5m cash and with a further deferred payment of €4m, of which €2m will be payable subject to the achievement of a pre-determined performance target.

Kortus is a privately owned nutrient Delivery Systems Company based in Orsingen-Nenzingen, Southern Germany that 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.

If you have any questions or comments regarding this article please contact Sorcha Tobin at STobin@glanbia.ie