Stage is set for second Glanbia vote

Members of Glanbia Co-op are already starting to focus on how they will manage their evolved milk processing responsibilities after their massive vote in favour of the Plc’s joint venture proposal.

Nobody was surprised by the outcome of the vote. While there have been some respected voices of opposition, some 71% of the record turnout of voters were happy to approve the purchase of 60% of Glanbia group member Dairy Ingredients Ireland via the joint venture, with Glanbia Plc retaining the remaining 40%. The new joint venture will be called Glanbia Ingredients Ireland (GII).

Ever since the rollout of the agri-food industry’s own Food Harvest 2020 blueprint for food export expansion — with its planned 50% jump in dairy exports — the big glaring question was who was going to pick up the tab for the capital investment into additional processing.