Glanbia to ringfence €170m for added value investments, including plant-based foods
Ireland’s largest dairy company is planning significant pivots to ‘add value’ in response to market pressures, including the creation of more plant-based products – and a name change
The days of expanding milk production in Ireland are over and processors must now look to value-added investments such as plant-based foods for future growth, the head of Ireland’s largest dairy co-op has said.
John Murphy, chairman of Glanbia Ireland, said the farmer co-op will ringfence a €170 million war chest, which it plans to deploy in value-added investments such as plant-based foods over the coming years.
“The days of expansion for Irish dairy farmers are over and the next phase will be about adding value,” he told the Business Post.