Glanbia sells stake in Nigerian joint venture

Food company Glanbia has sold its stake in Nutricima, a joint venture business based

in Nigeria. Glanbia’s partner in the venture, PZ Cussons, has agreed to buy its 50

per cent stake for about €29 million.

In a statement issued last week, Glanbia said that Nutricima “no longer fits its

strategic priorities”. However, Glanbia has entered into a long-term agreement

with the company for the supply of dairy ingredients.

Glanbia’s managing director, Siobhan ...