Glanbia is in discussions over a management buyout of its meats division as it looks to focus on other areas of the business.

The group said it was in talks with a team led by Glanbia Meats chief executive Jim Hanley for a buyout of the division, which supplies the foodservice sector in the UK as well as retailers in Ireland.

Glanbia Meats produces and processes 40% of Irish pigmeat, of which two thirds is exported, and employs 850 staff at four facilities and farms in the Republic of Ireland. "This development is consistent with our objective of focusing on cheese, food ingredients, nutrition and consumer foods," said a Glanbia spokesman.