Glanbia buys German food company for €14.5m

Glanbia today announced the acquisition of the German-based food ingredients company, Kortus Food Ingredients Services, for €14.5m.

Glanbia said it acquired the assets of Kortus for €14.5m. This comprised €10.5m cash and a further deferred payment of €4m.

Kortus is a privately-owned nutrient delivery systems company based in southern Germany and specialises in the production, research and development of customised nutrients systems for customers in the infant formula, clinical nutrition and dietetics markets.