Glanbia mulls selling meat business to managers

GLANBIA has entered negotiations for a possible sale of its meats business to a team of senior managers.

The buyout team is led by Glanbia Meats chief executive Jim Hanley, with operations manager Niall Leydon, human resources manager Michael Slevin and finance and strategy manager Andy Fleming as the other members.

Glanbia confirmed in a statement yesterday that it has “entered into negotiations, which may lead to a transaction being concluded whereby the group will sell its meats business to an MBO team”.