Ireland: Glanbia plc signed non-binding agreement with USA headquartered Leprino Foods Company

The Ireland based Glanbia plc and the USA headquartered Leprino Foods Company have signed a non-binding agreement for Leprino Foods to acquire full ownership of Glanbia Cheese, comprising Glanbia Cheese UK and Glanbia Cheese EU. The original Glanbia Cheese Limited joint venture was established between Glanbia and Leprino in 2000. It is expected that Glanbia plc will receive initial cash consideration in excess of 160 million euro (inclusive of repayment of shareholder loans) for the sale of its stake in Glanbia Cheese, with the possibility of additional contingent consideration of up to 25 million euro over the next three years, dependent on business performance. Glanbia Cheese has three manufacturing facilities: Llangefni in Wales, Magheralin in Northern Ireland and Portlaoise, Ireland as well as a corporate office in Northwich, UK. Glanbia Cheese is exporting to over 30 countries around the world. It has a total of 500 employees. Glanbia Cheese EU is located in Portlaoise, Ireland. It was established in 2018 and commenced production in 2021. Leprino Foods is the largest mozzarella cheese producer in the world, with 5000 employees products are available in over 55 countries.

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