US pharmaceuticals company Abbott Laboratories has announced that it has entered into an agreement to acquire US nutrition company EAS.

Golden, Colorado-based EAS makes nutrition bars and drinks and has brands including EAS, AdvantEdge, Myoplex and Body for Life. Under the terms of the agreement, Abbott will acquire EAS for approximately US$320m in a cash-for-stock transaction.

"This acquisition expands Abbott's position in the rapidly growing healthy living category," said Gary E. McCullough, senior vice president for Abbott's Ross Products Division. Abbott acquired ZonePerfect Nutrition in 2003.