Tirlán approves spin-out of 15 million Glanbia shares worth €173m to members

Tirlán Co-op will remain the largest individual shareholder in Glanbia with 23.7% of the issued share capital.

The board of dairy co-operative Tirlán have announced that the company has decided to spin-out 15 million shares it owns in Glanbia to its members valued at €173m.

In a statement, the board of the co-op said the decision was “overwhelmingly approved by members” at a Special General Meeting held on October 4 last year. Following the completion of the spin-out, Tirlán Co-op will remain the largest individual shareholder in Glanbia with 23.7% of the issued share capital.

The move will see each Tirlán member get Glanbia shares in proportion to the number of shares they have in the co-operative. The value of the spin-out is based on the price of Glanbia shares recorded on Friday which was €11.51.

For example, for a member with 1,000 shares in Tirlán, they would be entitled to 448 Glanbia shares which would be valued at €5,156. Tirlán said the spin-out will be worth €16,804 to their average member.

John Murphy, chair of Tirlán, said it is “important that we return value to our 11,000 our farm family members, many of whom have invested in their farm businesses and have built our organisation into the world-class business that it is today”.

“This latest distribution of value brings the total number of shares spun-out to over 63.5 million with a current value of over €731 million.” 

Tirlán was previously known as Glanbia Ireland before it was rebranded in 2022. It is Ireland’s largest dairy processor. Last year, it reported a 5% rise in revenues last year to €2.66bn while its operating profit in 2024 remained consistent at €67.2m.