ICMSA set to support Glanbia buy-out

GLANBIA Co-op’s proposed buy-out of the Irish business of Glanbia plc could get the backing of the Irish Creamery Milk Suppliers Association before the weekend.

The Limerick-based association has many members who are suppliers to Glanbia and discussions have been taking place to determine its position on the move in recent days.

Sources close to the talks suggest the ICMSA is leaning towards supporting the €340m buy-out of the Irish dairy and consumer businesses on the basis that it is the “least worst option”.