Irish co-op Tirlán raises €237m by selling 12m shares in Glanbia

Tirlán's network spans over 5,000 farm families, with the co-op exporting its milk pool of over 3bn litres to 100 countries.

Irish dairy co-op Tirlán has confirmed the sale of 12m shares in Glanbia by way of an equity placement and a share buyback scheme at €21.47 per share, resulting in proceeds of approximately €257.6m.

Following these transactions, Tirlán will hold 31.5m shares in Glanbia, equating to just over 13% of the issued share capital.

Speaking on the share sale, Tirlán chairperson Ger O’Brien said that the transaction represented a step in the co-op’s longer-term journey to have a more diversified investment portfolio, in line with the approval obtained from Members at a Special General Meeting (SGM) in October 2024. 

Tirlán's network spans over 5,000 farm families, with the co-op exporting its milk pool of over 3bn litres to 100 countries.

“It is the Board’s intention to re-invest the funds raised, over time, in the longer-term best interests of the Co-op,” Mr O'Brien said.

“Importantly, we retain strong confidence in Glanbia plc’s strategy, performance and future outlook, and we remain its largest shareholder.”

Goodbody Stockbrokers and Rabobank, in cooperation with Kepler Cheuvreux, acted as joint global coordinators and joint bookrunners in connection with the Equity Placement, which was confined to institutional investors.

In its latest annual results, Glanbia said its revenues for the year to January 2026 rose by 2.3% to $3.9bn (€3.37bn) while its basic earnings per share jumped almost 20% to 73.15 cent.