Glanbia Co-op boosts board as Glanbia Ireland ownership change nears

Glanbia Co-op is close to taking total control of Avonmore milk producer Glanbia Ireland.

Glanbia Co-op has further strengthened its management team as part of the ongoing process around the change of ownership of dairy products company Glanbia Ireland.

Michael Horan, currently group company secretary for Glanbia Plc, has been appointed chief finance and secretariat officer for Glanbia Co-op. 

Glanbia Ireland chief financial officer Frank Tobin will fill the newly created role of chief investments officer at Glanbia Co-Op and Joe Taneyhill has been appointed strategy director.

The co-op said Mr Tobin’s role will cover the delivery of potential mergers and acquisitions, joint-venture deals, and strategic partnerships.

Taking full control

Glanbia Co-op has been moving closer to taking full control of Kilmeaden cheese and Avonmore milk maker Glanbia Ireland, which it has operated as a joint-venture with Glanbia Plc. 

Co-op shareholders approved the acquisition of the plc’s 40% stake in Glanbia Ireland before Christmas. 

Last month, Glanbia Co-op sold some of its shares in Glanbia Plc and raised €250m through a bond sale as it came closer to paying €307m to take full control of the Glanbia Ireland dairy business.

Glanbia Plc shareholders are scheduled to vote on the proposed transaction on February 25.