Food group Glanbia has paid €14.5m for German food ingredients company Kortus.
Glanbia will initially pay €10.5m in cash, with a further deferred payment of €4m. €2m of this will be subject to certain performance targets being met.
Kortus, based in southern Germany, specialises in the production, research and development of customised nutrients systems, mainly for use in baby food and dietary products.
Glanbia shares jumped 13 cent to close at €2.75 in Dublin this evening - a gain of almost 5%.
