The Cross Group, one of the State's largest pharmaceutical and animal healthcare company's, intends to float on the Dublin stock exchange after completing a number of acquisitions, The Irish Times has learned.

The company, controlled by the Tierney family, has seen significant expansion over the last year, particularly in the United States.

It announced yesterday that Cross Vetpharm, one of its largest divisions, has acquired the Canadian company, MTC Animal Health, the veterinary division of Maple Leaf Foods.

While the company will not say how much the acquisition cost, industry analysts say it would be in the region of £30 million.

The company wants to complete about two to three more acquisitions, before it seeks a flotation. "We have decided going to the market is the right option for us, but first we want to expand the company, particularly in high growth markets like Canada and the United States," said a company source yesterday. "It is difficult for a company to seriously expand in the United States without have a listing."

MTC is reported to make an annual pre-tax profit of about $22 million (£15.7 million) and sells most of its animal health products in Canada. Cross Vetpharm plans to use the company as a vehicle to move into the United States.

"This is a perfect fit for our company and enables us to gain a foothold in the north American veterinary market and a substantial share of the Canadian market too," said the chief executive of Cross Vetpharm, Mr Randall Tierney.

"Our plans are to upgrade the facilities and supply our wholesale company recently acquired in Kansas, and further develop our business generally," added Mr Tierney.