Glanbia ups Wexford Creamery shareholders cash payment to €10m

Glanbia Ingredients Ireland has substantially increased its cash payment to Wexford Creamery members from €3.7m to €10m, in a move that has quelled disquiet among milk suppliers.

Glanbia will also invest €5m in the Wexford plant.

Discussions are under way with the board of Wexford Milk Producers to release an extra €6.3m as an up-front payment to be spun out on a basis agreed by the board.