Prepared Foods December 13, 2004 enewsletter

Glanbia PLC said it has acquired the German-based nutrient delivery systems company Kortus Food Ingredients Services GmbH for 14.5 million euros ($19 million).

The consideration comprises 10.5 million euros ($14 million) cash and with a further deferred payment of 4 million euros ($5.3 million), of which 2 million euros ($2.7 million) 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, Germany, that specializes in the production, research and development of customized nutrients systems for customers in the infant formula, clinical nutrition and dietetics markets.