Over 11,000 Tirlán Co-operative Society members are set to receive a significant windfall as part of a €173 million share spin-out. The Tirlán Board has confirmed the distribution of 15 million Glanbia plc shares to members, marking a key milestone in the Co-op’s evolution.
Based on Glanbia’s closing share price of €11.51 on Friday, May 9th, the distribution will amount to approximately €5,156 for every 1,000 shares held by a member — or over €16,800 for the average active Tirlán member.
The move follows strong member support at a Special General Meeting held in October 2024, where the spin-out was overwhelmingly approved.
KCLR’s Agricultural Correspondent Matt O’Keeffe says that while there has been some criticism regarding the recent decline in Glanbia’s share price, the distribution of nearly €170 million worth of shares will be broadly welcomed by members.
“This marks the final hurdle in the separation of Glanbia plc from the Tirlán Co-op,” he said. “And although the Co-op remains Glanbia’s largest individual shareholder — holding 23.7% of its issued share capital — both are now entirely separate entities, each with its own management and ownership structures.”
The spin-out reflects a long-planned strategy to give Co-op members greater direct ownership while clarifying the roles of the Co-op and Glanbia as distinct organisations in the agri-food and nutrition sectors.
