FDBusiness.com

Glanbia Enters into a New Dairy Processing Joint Venture With Co-operative Owners

 Breaking News
  • UK Supermarkets Sweep Up 17 Months of Growth UK supermarket sales have increased in value by 3.1% compared with last year according to the latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 8 October 2017. This marks the 17th period of growth in a row for Britain’s grocers. Like-for-like grocery inflation remains at 3.2% but consumers could be [...]...
  • Hilton Food Group to Expand to New Zealand Hilton Food Group, the UK-based specialist international meat packing business, is to proceed with plans to expand its packing capability to New Zealand. Hilton will construct a new meat processing facility in Auckland and supply Progressive Enterprises, New Zealand’s leading retailer, trading as Countdown Supermarkets. As Progressive Enterprises is also part of the Woolworths business, [...]...
  • From Measurement Data to Smart Actions Energy and process industry monitoring and control systems contain a lot of data, which is not always fully utilised. Data is also collected in different systems, which further hampers comprehensive overall management. The efficient use of measurement data is increasingly becoming a crucial factor in gaining a competitive advantage. Elomatic’s FORMIOT data analysis service offers support [...]...
  • Rocla’s Automation Solution Maximizes Storage Capacity and Saves Money Operations at Valio’s new whey powder factory started gradually in Autumn 2014. The main goal was to build a fully automated warehouse. Valio also needed to maximize the storage capacity in this space, and to be able to adjust the temperature and air humidity. At the warehouse there are 3 Rocla’s automated guided vehicles (AGVs) [...]...
  • Packaging Automation Helps Chicory Crops to Grow As a growing business Packaging Automation know how important it is to keep cash within the business and how hard it is to acquire the machines and equipment you need to grow. Packaging Automation want to help businesses to grow, adapt and keep up with what can be frighteningly fast paced growth without tying up [...]...

Glanbia Enters into a New Dairy Processing Joint Venture With Co-operative Owners

Glanbia Enters into a New Dairy Processing Joint Venture With Co-operative Owners
October 23
13:48 2012

Glanbia, the global nutritional solutions and cheese group, has signed contracts with its majority shareholder, Glanbia Co-operative Society, to enter into a joint venture in respect of Dairy Ingredients Ireland. Dairy Ingredients Ireland (DII) is a business unit of the Dairy Ireland division of Glanbia, including its 45% share of the Corman Miloko Ireland JV and its 23% shareholding in the Irish Dairy Board. Under the proposed transaction, the new joint venture, to be known as Glanbia Ingredients Ireland (GII) will be 60% owned by Glanbia Co-operative Society and 40% owned by Glanbia.

The existing DII business is the largest dairy ingredients processor in Ireland, assembling a milk pool of 1.6 billion litres and processing it into about 180,000 tonnes of dairy ingredients largely for export to over 50 countries worldwide. In 2011, DII generated revenue of Eur738 million, operating profit of Eur33 million and EBITDA of Eur44 million.

John Moloney, group managing director of Glanbia, comments: “At this point in our development we face clear strategic choices as we approach a post quota era. The proposed new joint venture is based on an existing, well invested and profitable international dairy ingredients business. This creates a strong platform from which to grow milk volumes and to capture the benefits arising from increased milk production and processing, post the abolition of milk quotas. The joint venture will ensure a continuation of strong and complementary links between the plc and the society within a structure that better accommodates the strategic interests of society members. It also enables Glanbia to continue its successful international growth strategy and to maximise value for all shareholders.”

If approved by both Glanbia Co-operative Society members and Glanbia shareholders, the joint venture transaction is expected to be completed by the end of the year. Glanbia Co-operative Society plans to subsequently reduce its shareholding in Glanbia from 54.4% to 41.4%.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 19, 2017PMA Fresh Summit 2017
  • October 21, 2017Food & Nutrition Conference & Expo 2017
  • October 22, 2017Serbotel
  • October 22, 2017Natexpo
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements