Glanbia has agreed a deal to acquire US company ThinkThin for $217m.
The company specialises in high-protein and health-focused bars and snacks and it will become part of Glanbia's Performance Nutrition division once the deal is finalised, which is expected before the end of the year.
Glanbia has become increasingly focused on ingredients and nutrition in recent years, and now owns a number of leading supplement brands including Optimum Nutrition and BSN.
It estimates that the nutrition bar market in the US alone is worth $2.8 billion a year.
The company said the deal will be marginally earnings accretive next year and will be funded by debt from existing facilities.
"The transaction is firmly aligned with our overall growth ambitions and positions us well in the fast growing nutrition bar category as well as being value enhancing for our shareholders," commented Glanbia's group managing director Siobhán Talbot.
