Glanbia to build on nutrition?
operations. A reduction in borrowing and a strengthened financial
position have enabled it to consider building its core business
areas through acquisitions, write market analysts Datamonitor this
week.
Irish cheese maker Glanbia has announced it is ready to expand its operations. A reduction in borrowing and a strengthened financial position have enabled it to consider building its core business areas through acquisitions, write market analysts Datamonitor this week.
According to the article, the company is particularly keen to build its nutritional ingredients operations, as John Moloney, group managing director of Glanbia, recently stated.
The company is on the look out for companies, in the €28 million-€46 million price range, that have a strong technical knowledge that they could bring to the business, he added.
The announcement comes despite the company's falling revenues for 2002. For the financial year ending December 2002 Glanbia reported a turnover of €2.3 billion, a decrease of 11.8 per cent on the previous year.
The decrease reflected the closure of its UK consumer meats business and the sale of the UK food service distribution operation, the company stated.
