Farmers urged to be cautious over Glanbia Ireland buy-out proposals

'We have seen over in the UK how a deceptively simple slogan like ‘Taking Back Control’ is actually more complex than it seemed at the time'

FILE PHOTO Irish-based nutrition group Glanbia has announced a 22.6pc drop in earnings from last year END 19/8/2011 Glanbia Ingredients factory. Pictured is the Glanbia Ingrediants LTD plant in Virginia, Co. Cavan, today (19/8/2011) Photo Mark Stedman/RollingNews.ie

Farm organisations have urged members to properly scrutinise proposals for Glanbia’s farmer-run division to buy out the publicly-listed company’s 40% shareholding in Glanbia Ireland.

Glanbia Ireland, Ireland’s largest dairy processor, currently operates as a strategic joint venture, 60% owned by Glanbia Co-op and 40% owned by Glanbia plc. However, the new plans will see it come under the sole ownership of the co-op.