Glanbia completes sale of its shareholdings in mozzarella business 

The joint venture began in 2000, and the business has grown to have over 500 employees.

Glanbia Cheese has three manufacturing facilities – Llangefni in Wales, Magheralin in Northern Ireland, and Portlaoise.

Glanbia plc has confirmed the completion of the sale of its shareholdings in Glanbia Cheese, a mozzarella maker in Europe, to its US joint venture partner Leprino Foods Company.

The transaction included a cash payment of €178.9m (comprising consideration of €114m and repayment of €64.9m), with further contingent consideration of up to €25m dependent on the performance of the business over the next three years.