Tirlán sells 12M shares in Glanbia plc for US$294.9M

IRELAND – Tirlán Co-operative has sold 12 million shares in Glanbia plc at a price of €21.47 per share, resulting in proceeds of approximately US$294.9 million (€257.6 million).

The deal, which comes as the co-op looks to diversify its portfolio, leaves Tirlán holding 31.5 million shares in Glanbia, or approximately 13.2% of the issued share capital.

This follows a previous cut to the co-op’s Glabia stake last October, when it sold 17 million shares to fund the cancellation of a €250m exchangeable bond.

Tirlán chair Gerald O’Brien said that the transaction represented a step in the co-op’s longer-term journey to have a more diversified investment portfolio, in line with the approval obtained from members in October 2024. 

“It is the board’s intention to re-invest the funds raised, over time, in the longer-term best interests of the co-op. Importantly, we retain strong confidence in Glanbia plc’s strategy, performance and future outlook, and we remain its largest shareholder.”

The sale will be followed by a change to the co-op’s representation on the Glanbia board, cutting its number of directors from two to one with effect from 5 August, in line with its reduced stake.

Glanbia board

John Murphy and William Carroll will retire from the Glanbia board on August 4, 2026.

It is proposed that Tirlán chairperson Gerard O’Brien will be appointed to the Glanbia plc Board as a non-executive director on August 5 as the nominee of Tirlán. O’Brien previously served on the board between June 1, 2024 and June 11, 2025.

Following this change, the Glanbia board will consist of 10 directors: two executive directors, the group chair and seven non-executive directors of whom one is nominated by Tirlán.

Tirlán

Tirlán Co‑op yesterday (Thursday, June 18) confirmed that John Murphy has announced his intention to retire from the board.

Tirlán said Murphy has made a significant contribution over many years, serving on the co-op board since 2010 and as chairperson from October 2020 to May 2026.

He has also served as a director on the Glanbia plc board since June 2010.

Tirlán said that during his tenure, he provided strong leadership through a period of substantial transformation for the organisation.

A process will now commence to appoint a Tirlán board director to represent the north Wexford/east Wicklow region.

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