Glanbia Agrees To Split Off Dairy Unit

Irish food group Glanbia is to split its Irish dairy business, Dairy Ireland, from its international consumer products unit following successful negotiations with the Glanbia Cooperative Society, which owns 54.6% of the firm. The deal will see Publicly listed Glanbia retain ownership of the international food business, which is primarily focused on US cheese and nutrition, while the cooperative will purchase control of the Irish dairy unit for an estimated EUR343mn (US$463mn). The move will free Glanbia to focus on higher growth areas and should put the firm in a strong position to build on its recent international

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