Glanbia confirms Tullamore buyout
Glanbia has confirmed that it has bought the Tullamore Dairies liquid milk brand, but the sale price has not been disclosed.
Owned by the Cleary family, who are related to the Clearys behind the successful Glenisk brand of organic yoghurts and milk, Tullamore Dairies is one of the country's smallest milk processors.
However, the business has grown its market share in recent years via aggressive discounting of milk sales. This has seen its total volume sales grow by nearly 30pc in the past year alone, when it supplied just over 620,000 litres of milk into shops.
It is understood that the deal is confined to the sales book of the business, with contracted milk supplies remaining with Tullamore.
A statement from Glanbia described the purchase as a "bolt-on acquisition", which consolidated the company's position in the market.
"For Glanbia, this development expands the range of regional brands in our portfolio and will enable Glanbia Consumer Products to further develop its liquid milk business in the midlands region," the company stated.
"The Tullamore Dairies brand will complement our existing regional brand strategy, which has been successful in Dublin and Munster -- through the Premier, Snowcream, CMP, Golden Vale and Dawn (Limerick) brands," the statement added.