Glanbia frees up €238m for members

Glanbia Co-op Society has moved to release about €238 million of its value to members, to help them finance significant expansion and investment in the Irish dairy industry.

The proposal is subject to member approval, and will be voted on by eligible members at a Special General Meeting in mid-May.

Announcing the proposals, the co-op chairman, Liam Herlihy, said: “The Board of the Society is making these proposals in the context of a period of unprecedented change in the Irish dairy sector.