Tirlán today (Thursday, June 11) confirmed its plans to sell part of its shareholding in Glanbia plc.

This will involve the sale of up to 12 million Glanbia shares - representing approximately 5% of Glanbia’s issued share capital.

Tirlán intend to sell part of its shareholding through a combination of market placing and participation in a share buyback programme.

According to the co-op it will do this by:

A share placement to institutional investors via an accelerated bookbuild process;
A directed share buyback by Glanbia of up to €50 million worth of shares at the same price established through the bookbuilding process.

In statement Tirlán detailed that "the transaction represents a step in the co-op’s longer-term journey to have a more diversified investment portfolio, in line with the approval obtained from Members at a Special General Meeting (SGM) on 4 October, 2024".

"Tirlán will remain the largest equity investor in Glanbia and continues to be a strong supporter of its strategy," the co-op added.

The co-op is expected to provide a further update when the process is completed.

Glanbia

In February of this year Glanbia had announced that its board had approved a €100 million share buyback programme, of which €50 million was commenced on the same date.

The €50 million programme which commenced on February 25, 2026 remains ongoing.

According to Glanbia the off-market purchase will utilise the remaining €50 million of the authorised €100 million buyback programme.

In its first quarter 2026 interim managment statement the company had reported a "strong first quarter performance with continued revenue momentum".

It also detailed that full year adjusted earnings per share were "expected at the upper end of the guidance range".

Hugh McGuire, Glanbia's chief executive officer, had said in April that the group saw "strong demand for our brands and ingredients".