Glanbia

The 1997 merger created the fourth biggest dairy processor in Europe and the fourth biggest cheese producer in the world. The Avonmore Waterford Group announced a reorganisation programme to increase their competitiveness. The strategy was to concentrate food ingredients activities in large-scale facilities in Ireland and the US. The US development strategy focused on the Avonmore West operation in Idaho which benefited from scale, location, and a growing milk supply. Following the US$20 million investment programme, Avonmore West became a supplier of dairy food and nutritional ingredients. As a result, the company disposed of its smaller cheese business in Wisconsin.

In Ireland, food ingredients activities were to be located mainly at Ballyragget and Virginia. Within the consumer food business, liquid milk operations were to be located at Ballytore, Waterford, and Drogheda. These decisions resulted in the closure of smaller facilities.

In the UK, the Group closed its Appleby cheese facility and also disposed of the Manchester-based juice business during 1997. The cost-saving measures targeted to save £20 million in 1998 and £40 million in 1999. It was anticipated that the programme would reduce jobs in AWG from 11,900 to 10,600. Job losses would be 750 in Ireland and 550 in the UK.

By May 1999, the reorganisation programme, announced in November 1997, was virtually complete. The Ballyragget site had been enhanced to accommodate the additional milk volumes. In the US, the Group was investing US$36 million in Idaho to increase cheese production by 30 percent and dairy-based food ingredients production by 22 percent. On 1 June 1999, the Group announced two important strategic sales. The first was the disposal of the UK liquid milk operations to Express Dairies, for £125 million. The second was the sale of its Irish beef processing operations to Dawn Meats for £10 million.

Proposed Irish dairy division sale to farmers

In April 2010, Glanbia plc announced plans to sell its Irish dairy and agri-business division to the Glanbia Co-Operative Society. The farmer-led co-op owns 54.6% of the company. The Irish dairy and agri-business includes brands such as Kilmeaden, Avonmore and Yoplait. The deal was aimed at freeing up Glanbia plc to pursue its global cheese and nutritional ambitions, but it failed to achieve the necessary three-quarters approval from the co-op's members on 10 May, falling just short at 73%.

On 25 November 2012, Glanbia disposed of 60% of its Irish dairy processing business to Glanbia Co-Operative Society Limited (the "Society"). As a result, the Irish dairy processing business, now called Glanbia Ingredients Ireland Limited ("GIIL")became an associate of Glanbia plc.

Segments

The company comprises:

Glanbia Nutritionals

Merger with Waterford

Waterford's expansion came at a cost, and the group struggled to maintain profitability in the mid-1990s. By 1997, after Waterford posted a profit warning, the group again found itself in merger talks with Avonmore. On 13 April 1997, Waterford confirmed that it had received a formal approach from Avonmore and advised that the Waterford Board was considering the approach. The prize for a successful merger would be significant: an Irish-based, world-scale food company. This proposed coming together would represent the biggest amalgamation in the history of the Irish dairy industry and possibly of Irish agribusiness.

Intensive dialogue took place between Avonmore and Waterford throughout April and May 1997. On 26 May, the Boards of Waterford Foods plc and Waterford Co-operative Society met to consider amended proposals from Avonmore Foods plc and Avonmore Creameries Ltd. The merger proposals provoked serious debates at numerous shareholder meetings throughout Waterford and Avonmore. Some shareholders had strong reservations and among their concerns were issues such as perceived loss of identity, dominance by one party over another, relative valuations of the two organisations, size and scale of the new entity, representation and weakening of farmer control. The majority of shareholders believed the merger was the right option for both organisations.

The first vote took place on 11 July 1997, exactly three months after the merger was formally proposed. The first vote followed an intensive six-week programme of shareholder information meeting throughout the Waterford and Avonmore areas. The successful merger of Avonmore Creameries Limited and Waterford Co-operatives Society, on 4 September 1997, formed the new Avonmore Waterford Co-operative Society. On the same date, the merger of Avonmore Foods plc and Waterford Foods plc, formed the new Avonmore Waterford Group (AWG) plc.

Acquisition of Aroma Holding Company

In April 2024, Glanbia announced to acquire Aroma Holding Company, a US flavouring business for $300m (€281 million) plus deferred consideration of up to $55 million, dependent on performance in 2024. On 28 February 2024, the company also announced €100 million buyback programme which was unaffected by this agreement. Glanbia declared to operate Flavor Producers within its Glanbia Nutritionals.