Glanbia could sell dairy business to co-operative

Glanbia, the Irish nutritional ingredients and cheese group, has announced that Glanbia co-operative society has expressed an interest in acquiring Glanbia’s Dairy Ireland operations.
The society is a 54.64% shareholder in the business, which incorporates Dairy Ingredients, Consumer Products and Agribusiness, Glanbia’s Irish property business, Group Business Services and related Irish Joint Ventures and Associates.
The discussions represent an opportunity to transform Glanbia, the firm says: “For the society and its members, such a transaction would offer the prospect of full ownership and control of the key strategic businesses that are closely aligned with their interests. For Glanbia, it would increase the group’s focus on international nutritional ingredients and cheese, significantly improve financial flexibility and enhances development of its successful growth strategy.”