Glanbia has announced the acquisition of US supplements company Bio-Engineered Supplements and Nutrition as it reported “excellent results” for the full year to 1 January.

The Irish ingredients and cheese manufacturer paid €108m on a debt-free basis for BSN - which develops and distributes nutritional products for health, training, physique development and performance - which is based in Boca Raton, Florida.

The news comes as Glanbia - in its pre-close trading statement - said that it expected to deliver circa 20% growth in adjusted earnings per share for the full year off the back of the return to profitability of its Irish Dairy Ingredients division and a “good performance” by the Global Nutritionals part of the business.

The company forecasted adjusted earnings per share growth of 11% to 13% in 2011.

Full year results will be announced on Wednesday 2 March.

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