Glanbia Share News (GLB)

Dairy product and performance nutrition group Glanbia is buying US sports nutrition provider Isopure for $153m. Glanbia, which supplies sports nutrition, cheese, speciality dairy and other ingredients and micronutrient premixes, said it expected to complete the deal for Isopure in the fourth quarter of 2014 subject to regulatory approvals and other conditions.The Isopure Company supplies premium branded sports nutrition products, focusing on powders and ready-to-drink formats, mainly via speciality, online and direct distribution. It had net revenue of $74.6m in the 12 months to the end of July.The acquisition is expected to be earnings accretive from 2015 and will be funded from Glanbia's existing debt.Glanbia's managing director Siobhán Talbot said: "Isopure is an excellent addition to our portfolio of market-leading performance nutrition brands."Shares in Glanbia rose €0.18 or 1.6% to €11.33 at 08:24 in London.