Announcing half-year results on Wednesday morning, Glanbia said it had agreed a €38m (C$60m) deal to acquire Foodarom, a specialist flavours solutions business based in Canada.

Glanbia said the business has a strong flavour formulation capability and generated sales of €22m (C$34m) last year.

Foodarom has manufacturing and applications facilities in Canada, the US and Europe. Glanbia said the company will be integrated as part of its nutritional solutions division, which delivered sales growth of 3% in the first half of 2020 to €388m.

Glanbia said it expects the acquisition to be earning accretive from 2021 onwards.