Glanbia Nutritionals said it acquired Sterling Technology, a North Sioux City, S.D.-based manufacturer of dairy bioactive solutions derived from bovine colostrum, for $60 million plus deferred consideration.
Colostrum is an ingredient used in the growing immunity and gut health segments of the health and wellness market, Chicago-based Glanbia Nutritionals said. It is well established in multiple markets — in particular, Asia markets with a focus on pediatric and medical nutrition, dietary supplements and sports nutrition.
“The acquisition of Sterling Technology enhances our bioactive solutions portfolio to support our customers’ needs and growth ambitions,” said Glanbia Nutritionals CEO Brian Phelan. “We are excited to bring on board the Sterling team and their expertise with this highly beneficial ingredient.”
Founded in 1987, Sterling Technology employs approximately 60 employees.
Glanbia Nutritionals said it also recently acquired PacMoore Processing Technologies, based in Mooresville, Ind., as well as its R&D facility in Gridley, Ill., for $53 million. PacMoore Processing Technologies specializes in extrusion, spray-drying and blending.
Glanbial Nutritionals said the addition of these technologies will its ability to support its customers in the healthy snacking and related nutrition segments. In addition, the knowledge and experience of the combined teams will further enhance the company’s ability to deliver optimized ingredient systems.