Glanbia, the Ireland-based dairy and nutrition group, has completed the sale of a majority stake in its Irish dairy business, Tirlán, to EQT, a leading Swedish private equity firm. The sale price is approximately €257.6 million, marking a significant development in the UK dairy industry.
The sale of Tirlán is expected to create a new player in the UK dairy market, with EQT's investment set to support the growth and expansion of the business. Tirlán is a leading dairy ingredients and infant nutrition business, with a strong presence in the UK and Ireland.
Commenting on the sale, Glanbia's Chief Executive, Siobhan Talbot, stated that the transaction will enable the group to focus on its core businesses in Ireland and the UK, while also supporting the growth and development of Tirlán under EQT's ownership. The sale is expected to be completed by the end of June 2024.
The sale of Tirlán has significant implications for the UK dairy industry, with the new owner set to play a major role in shaping the market. The UK dairy industry is already facing challenges related to Brexit, trade agreements, and global market trends. The entry of a new player is likely to increase competition and potentially lead to changes in pricing and market dynamics.
The UK government has been keen to support the dairy industry, with the Department for Environment, Food and Rural Affairs (Defra) launching initiatives to promote the sector and improve its competitiveness. However, the sale of Tirlán is likely to be closely watched by the UK government, which will be keen to ensure that the new owner does not disrupt the market or compromise the interests of UK dairy farmers.