Glanbia plc has announced today that it is in advanced discussions to build and operate a new cheese and whey production facility as part of a joint venture.
Glanbia plc, Dairy Farmers of America Inc. (DFA), Michigan Milk Producers Association (MMPA) and Foremost Farms USA (Foremost Farms) are in advanced discussions to create a stand-alone joint venture to build and operate a new cheese and whey production facility in the state of Michigan.
It is proposed that 50% of the joint venture will be owned by Glanbia and the 50% balance will be owned by DFA, MMPA and Foremost Farms.
As part of the proposed joint venture Glanbia will have full responsibility for all commercial, technical and operational aspects of the business while DFA, MMPA and Foremost Farms would supply all milk required by the plant.
If the project proceeds as planned, commissioning of the new facility is expected to take place in the second half of 2019.
Commenting on the announcement, Brian Phelan, CEO of Glanbia Nutritionals said Glanbia is delighted to announce the exciting proposed project in Michigan.
“Consistent with Glanbia’s growth strategy, this proposed venture will build on our position as the number one producer of American-style cheddar cheese and simultaneously expand our global position as a supplier of advanced technology whey protein to the nutritional sector.
This proposed joint venture is a strategic move by all the partners to benefit from the growing, large-scale milk pool in the State of Michigan.
Glanbia actively serves the nutritional needs of consumers directly through a range of branded products and as an ingredient partner to the wider food industry.
Headquartered in Kilkenny, it has a turnover of €3.7 billion per annum and 6,000 employees in 32 countries worldwide.