Glanbia shares rise as it buys two firms for €181m

Shares in Glanbia rose about 1.5% after the food firm said it was paying €181m to buy two more international firms.

The Kilkenny-based multinational late last month said it had advance plans to build its third cheese factory in the US in a joint venture with Michigan dairy farmers.

The investment was hailed by analysts as it only involved a relatively small amount of upfront cash to secure the transaction.