Co-op members in line for windfall

Glanbia co-op members could be in line for a €122m windfall if they agree to take a 60% stake in a joint venture with the Glanbia plc.

The €122m sweetener was added into the deal to make sure there is something in the offer for all co-op members, not just milk producers.

The deal proposes that the co-op pay €44.5m for a 60% stake in Dairy Ingredients Ireland, which is the current dairy processing arm of the Glanbia.