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Wednesday, January 19, 2011

Glanbia buys U.S. performance nutrition business

Irish food group Glanbia (GL9.I) said it had acquired U.S. performance nutrition business Bio-Engineered Supplements and Nutrition for 108 million euros ($144.7 million), adding it expects strong growth in the sector. Europe's biggest supplier for mozzarella cheese for pizzas on Wednesday also reiterated its 20 percent adjusted earnings per share growth forecast for 2010, with 2011 growth seen at 11 to 13 percent. "Our performance nutrition outlook (for 2011) is 6 percent to 7 percent in organic growth. We see very good prospects across our nutritional business," Group Managing Director John Moloney told Reuters in a telephone interview.

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