Disposal

RNS Number : 5899D

Glanbia PLC

17 May 2012

 



RNS

 GLANBIA  AGREES  SALE OF YOPLAIT FRANCHISE BACK TO BRAND OWNER

[17 May 2012] Glanbia, the international nutritional solutions and cheese Group, today announced that following a strategic review of its Consumer Products business, it has agreed new terms to its long standing relationship with Yoplait, the owner of the global Yoplait yoghurt business.  

 Glanbia will sell the Yoplait franchise for Ireland back to Yoplait  for cash consideration of €18 million. Under a new agreement, Glanbia will continue to distribute the Yoplait branded products and provide field sales support through its Consumer Products business based in Dublin.  Yoplait will progressively take over responsibility for production, marketing and account management in the Republic of Ireland and Northern Ireland.

Regrettably, as a consequence of this decision, production will cease at Glanbia's facility in Inch, Co. Wexford. While Glanbia has held the Yoplait franchise for the manufacture and sale of the brand in Ireland since 1973, the decision to move away from the franchise model recognises the current challenging Irish retail environment.  The Consumer Products business will continue to focus on ongoing innovation and the development of its core beverage and food brands. 

Ends

For further information:

Glanbia plc  [phone] 

Geraldine Kearney, Group Communications Director [phone]

 

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