In a number of proposals, Glanbia co-op seeks to buy 60% of the consumer and agri businesses from the plc, spin out €100m to shareholders and create a €40m support fund for members.

The first proposal is for Glanbia co-op to acquire 60% of the consumer and agri businesses that currently sit 100% in the plc. This will see the creation of a new entity called Glanbia Ireland, which will bring together Glanbia Ingredients Ireland, Glanbia Agri and Glanbia’s consumer division.