Glanbia Co-op shareholders seek delay to key vote on €307m deal

The co-op vote on the deal will mark a huge resetting of the dairy industry in Ireland.

Glanbia Co-op, which owns 60% of Glanbia Ireland, proposes to buy the remaining 40% stake in the dairy products division from Glanbia Plc in a transaction valued at €307m.            

A number of Glanbia Co-op shareholders have written to the co-op and to the stock market-listed Glanbia Plc, saying that a key vote on Friday over a key €307m deal should be postponed.

The co-op members are due to vote on the deal that will see the co-op buying out the 40% stake the plc owns in a business called Glanbia Ireland, which includes some of Ireland’s best-known consumer brands, including Avonmore milk, Premier milk, and Kilmeaden cheese.