In 2012, 60 per cent of Glanbia’s earnings came from the higher value-add parts of the business. By 2022, this had morphed to 90 per cent, reflecting the shift in focus and the move away from traditional food commodities.
Part of this pivot meant jettisoning Glanbia’s former dairy business, which Talbot successfully brokered, partially in 2017 and fully in 2021 when the plc sold its remaining 40 per cent stake in Glanbia Ireland to Glanbia Co-op, its largest shareholder.Eighty per cent of Glanbia’s business is now in the US, debunking the myth that Irish food companies tend to come unstuck stateside. It is reflected in the company’s recent decision to report its results in dollars rather than euro.
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Analysis: Siobhán Talbot leaves Glanbia a bigger company, but its profitability is weakerBusiness editor Lorcan Allen looks into the multinational food giant as its chief executive announces her departure after a decade in charge
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