Once completed, the food giant’s deal for US firm Flavor Producers will be its biggest ever and deepens its focus on its ingredients business. A similar-sized deal for SlimFast six years ago offers a cautionary tale.
For years, Glanbia’s performance trailed behind Kerry’s. The tide is now turning.
The nutrition group’s true performance is to be found deep in its capital efficiency. And this means moving away from dairy processing – except in the US, its boss Siobhán Talbot tells The Currency.
Half-year results from the global nutrition group reveal the effect of its final divestment from domestic milk processing on its bottom line, share buybacks and the resulting value returned through its stock.
The world renowned Coolmore Stud is suing Glanbia for tens of millions of euro over contaminated equine feed. Faced with a 14 day ultimatum to concede liability, Glanbia chose to fight back. Court papers shed new light on the battle.
A string of companies linked to John Magnier’s Coolmore Stud have issued legal proceedings against Glanbia. Trainer Aidan O’Brien and his son Donnacha are also listed as plaintiffs in the case.
Ireland’s largest dairy processor has completed its separation from the listed multinational it had created. Under full farmer ownership, its new priority is to boost lagging producer prices.
The farmer-owned co-op is regaining full control of Glanbia’s Irish operations in a €300m deal. This will now be largely funded by debt secured on the group’s listed shares, reducing the need to sell under-valued stock.
In one fell swoop, the board and management of Glanbia Co-op want to regain full control of Ireland’s largest agribusiness, sell down its PLC shareholding and prepare for expansion into new areas. Its farmer members are voting this Friday.
As the food group continues its strong recovery, it is selling its historic dairy business back to farmers, distancing itself from controversial expansion in the industry – and providing a price benchmark for a stalled similar plan at Kerry Group.
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