Glanbia has acquired Nutramino for an estimated €20m. The Scandinavian company is a leading sports nutrition business in Denmark, Sweden and Norway.

Nutramino’s core products of protein shakes, energy drinks and nutrition bars are sold through gyms and convenience stores. The business, which started in Denmark in 2002, has a strong distribution network across the region.

Glanbia now holds the largest portfolio of global sports nutrition brands. It entered this market in 2008 with the purchase of the whey powder supplement specialist Optimum Nutrition for €212m. In 2011 it added Bio-Engineered Supplements (BSN) to its stable for a reported €108m. Last year, the growing global sports nutrition market was worth in excess of $6.5bn. Last August, Glanbia reported half-year revenue for the division of €324m, with earnings growth of 20%. The latest acquisition is complementary to the business strategy and facilitates the roll out of the brands throughout Europe.

On the other side of the world, the US state of Idaho reported a decline in milk output of 1.1% year-on-year for the first time in a number of years. Glanbia is the largest processer in Idaho, processing cheese and whey for its nutritional businesses. Analysts say the fall in milk output is due to a decrease in dairy cow numbers of 2.6%.