By Dan Walsh
Glanbia Co-operative Society Limited (“Glanbia Co-op”) has last Friday (April 1st) confirmed the completion of the transaction to acquire full ownership of Glanbia Ireland DAC.
This follows the overwhelming approval of the proposed transaction by Glanbia Co-op shareholders at a Special General Meeting on December 17th 2021.
Glanbia Ireland previously operated as a strategic joint venture, 60% owned by Glanbia Co-op and 40% owned by Glanbia plc.
Ireland’s leading dairy processor, Glanbia Ireland, is a €2 billion, integrated agri-food and nutrition business, with world-class dairy and grain processing assets and an award-winning portfolio of brands including Avonmore, Kilmeaden and GAIN Animal Nutrition.
John Murphy, Chairman of Glanbia Co-op, said: “I am very pleased to confirm to Glanbia Co-op members that we have successfully completed our acquisition. Last December, our members voted overwhelmingly in favour of taking 100% ownership of the world-class processing assets closest to our farmers’ interests. The new ownership model will support Glanbia Co-op’s ambitions to build one of Europe’s leading Co-ops, with greater flexibility to support members, pursue new opportunities and add value to our farmers’ high quality milk and grain through innovation.”
Jim Bergin, Chief Executive of Glanbia Co-op said; “We are very ambitious for this great business and are excited by the opportunities presented by this natural evolution to a pure Co-op model, with the added dimension of our investment fund.
“Our excellent workforce and leadership team are looking forward to launching our new identity, logo and branding later this year. I believe that this is an exciting opportunity to position our Co-op strongly as a new ambitious organisation on global markets.”