ICMSA says Glanbia proposal will be looked at carefully – “Interests of farmer-suppliers must be starting and finishing point”

Responding to the Glanbia announcement, ICMSA President, Pat McCormack, said that the association would look carefully at the proposal before coming to any decision on whether to recommend it or not. Mr. McCormack noted Glanbia PLC’s enthusiastic and positive vision of a post purchase future where the Co-op became ‘one of Europe’s top Co-ops’ with an ‘award-winning portfolio of brands’ and greater flexibility to support members and pursue new opportunities. All of which was possible, according to Mr. McCormack, but was in no way conditional on the Co-op acquiring full ownership of Glanbia Ireland.

“Though there are obvious differences with other buy-outs and various mergers, there’s enough in common to justify our Association taking its standard attitude and that is to ask what is the long-term interests of the farmer-suppliers. That is our starting point and our finishing point. With due respect to both the PLC and Glanbia Ireland, we will consider this in terms of how it affects the farmers. It’s not as simple as giving the farmers the room to decide their own milk price, we have seen over in the UK how a deceptively simple slogan like ‘Taking Back Control’ is actually a much more complex proposition than seemed at the time. There will be arguments for and arguments against and ICMSA will decide on a position after carefully looking at both,” said Mr. McCormack.

Ends      10 November 2021

Pat McCormack, 087-7608958

President, ICMSA.

Or

Cathal MacCarthy, 087-6168758

ICMSA Press Office