Thomas Lyons 
Glanbia, a Kilkenny-based food company, has confirmed the sale of its share in Glanbia Cheese, a mozzarella maker, to joint venture partner, Leprino Foods. The deal includes three manufacturing facilities in Llangefni in Wales, Magheralin in Northern Ireland, and Portlaoise. Glanbia will receive a total of €178.9 million in cash for its share, with a possible further payout of up to €25 million, depending on the performance of Glanbia Cheese over the next three years. The transaction is subject to customary post-completion cash and working capital adjustments. Glanbia stated that the proceeds of the sale will be used for general corporate purposes. After the sale, Glanbia will focus on its better nutrition strategy, serving consumer health and wellness categories through its consumer brands and ingredient solutions business.
Leprino Foods, a family-owned company, is one of the world’s largest mozzarella cheese makers and a leading producer of whey protein and dairy ingredients. The company was formed in Denver, Colorado in 1950 when Mike Leprino Sr. started making mozzarella cheese for his family’s corner grocery store. Today, it employs more than 4,000 people worldwide and has nine US manufacturing facilities, two global joint ventures, and sales offices in Asia. Leprino Foods has acquired Glanbia Cheese and will be renamed as Leprino Foods UK Limited and Leprino Foods EU Limited.
Mike Durkin, president and chief executive of Leprino Foods, said that the acquisition of Glanbia Cheese is a significant milestone for the company. He added that the acquisition will enable the company to take advantage of its combined expertise, knowledge, and strengths to enhance and expand its international presence by providing access to key markets across the globe. Meanwhile, the current management team of Glanbia Cheese, led by chief executive Paul Vernon, will continue to manage the day-to-day business. Vernon has previously described the operation as a strong, well-invested business with an excellent team and deep customer and supplier relationships. He believes that Glanbia Cheese will be a strong fit within Leprino Foods and is looking forward to working with the company to build on their success as a trusted supplier and business partner to their customers in the pizza category across the UK and Europe.
This acquisition is expected to benefit both companies as they share a common goal of providing high-quality cheese products to their customers. Leprino Foods and Glanbia Cheese have been joint venture partners for over 20 years, and this acquisition will enable Leprino Foods to expand its presence in the European market. Glanbia Cheese will also benefit from Leprino Foods’ global expertise and resources.
The acquisition of Glanbia Cheese is a significant move for Leprino Foods, as it strengthens its position as one of the world’s largest mozzarella cheese makers. The company has a long history of producing high-quality cheese products and is known for its commitment to innovation and sustainability. With this acquisition, Leprino Foods will be able to expand its product offerings and reach new customers in the European market. The acquisition is also expected to benefit Glanbia Cheese, as it will enable the company to access new markets and leverage Leprino Foods’ global resources and expertise.
In conclusion, the acquisition of Glanbia Cheese by Leprino Foods is a significant move for both companies. It will enable Leprino Foods to expand its presence in the European market and provide Glanbia Cheese with access to new markets and resources. Both companies share a common goal of providing high-quality cheese products to their customers and are committed to innovation and sustainability. The acquisition is expected to benefit both companies and their customers in the long run.
