Activist Clearway Capital buys a stake in Glanbia

Shares in the Kilkenny company have declined about 12% since January

Glanbia Plc last month released a weaker-than-expected outlook for the full year.

Activist investor Clearway Capital has acquired a minority stake in Glanbia Plc, people familiar with the matter said, after the food and nutritional products company last month released a weaker-than-expected outlook for the full year.

Frankfurt-based Clearway may communicate with Glanbia’s management and propose a set of actions aimed at improving the company’s valuation, said the people, asking not to be named because the plans aren’t public.