Statement re OFT Announcement

RNS Number : 2041W

Glanbia PLC

23 July 2009

 

23 July 2009

Glanbia PLC 

OFT announcement 

23 July 2009 - Glanbia plc ('Glanbia'), the international dairy foods and nutritional ingredients group, notes today's Supplementary Statement of Objections issued by the UK's Office of Fair Trading ('OFT') regarding its ongoing investigation into Dairy Retail Price Initiatives. One of the parties named in today's OFT announcement is The Cheese Company Limited ('TCC'), a UK hard cheese company now in the ownership of Milk Link Limited, which was owned by Glanbia during the period under investigation.

Further to the OFT announcement Glanbia confirms that it is party to an agreement with TCC dated 7 December 2007 whereby both parties have agreed to co-operate with the OFT in its ongoing investigation. As a result of agreeing to co-operate with the OFT it is currently anticipated that the maximum penalty payable by Glanbia and TCC combined is £2,016,360. It is expected that the actual fine imposed will be substantially lower.

- Ends -

For further information please contact:

Glanbia plc        [phone]    

Geraldine Kearney, Director, Corporate Communications

 

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