Glanbia has its eyes on the US market as it reaches advanced discussions over a joint venture with Dairy Farmers of America.
A deal would see the creation of a standalone venture to operate a new cheese and whey production plant in Michigan, able to process 3.6 million litres of milk a day.
The venture, operational by 2019, would be 50% owned by Glanbia and 50% owned by DFA, Michigan Milk Producers Association and Foremost Farms.
Glanbia would take full responsibility for the commercial, technical and operational aspects of the business, while the others would supply all the milk required for processing.
“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,” said Brian Phelan, CEO of Glanbia Nutritionals. “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.”
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