Kilkenny co-op confirms €173 million spin out of Glanbia plc shares to Co op Members
Tirlán Co-Op is headquartered in Kilkenny City
More than 11,000 Tirlán Co-op Members, many in Kilkenny, will benefit from a spin-out of €173 million worth of Glanbia plc shares, the Co-op has confirmed.
The Board of Tirlán Co-operative Society Limited, Ireland’s leading food and nutrition co-operative, yesterday (Monday) approved the distribution of 15 million Glanbia plc shares to Co-op Members. Based on a Glanbia plc closing share price of €11.51 on Friday 9 May 2025, this will be worth approximately €5,156 for every 1,000 shares that a Member holds in Tirlán Co-op, or over €16,804 to an average active Tirlán Co-op Member.
The spin-out was overwhelmingly approved by Members of Tirlán Co-operative Society Limited at a special general meeting held on October 4, 2024. Following the completion of the spin-out, Tirlán Co-op will remain the largest individual shareholder in Glanbia plc, with 23.7% of the issued share capital.
Tirlán Chairperson John Murphy said that the Co-op Board was pleased to be in a position to return value to Members.
“It is important that we return value to our 11,000 our farm family Members, many of whom have invested in their farm businesses and have built our organisation into the world-class business that it is today. This latest distribution of value brings the total number of shares spun-out to over 63.5 million with a current value of over €731 million*.
A detailed information pack, including details of individual plc share allocations, will be issued to Co-op Members shortly.