Cleary family again in full control of Glenisk as Danone shareholding ends

Offaly dairy foods company Glenisk is again fully owned by the Cleary family, after its 17-year shareholding arrangement with Danone recently came to an end.

In a statement this week, the Killeigh-based firm said the minority shares which Danone held in the company had been "redeemed by mutual agreement" on June 30.

The statement outlined how, in 2006, organic yogurt company Stonyfield Europe acquired a minority stake in Glenisk. At the same time, Groupe Danone acquired a controlling stake in Stonyfield Europe.

"Danone has remained a minority shareholder in Glenisk during the intervening period. The company continued to be majority-owned and fully-managed by the Cleary family," said the statement from Glenisk.

It said the conclusion of the shareholding arrangement with Danone meant the company was "once again 100% owned by the Cleary family," which started the company in the mid-80s.

The company said: "The partnership with Danone was a positive arrangement for Glenisk, enabling the company to invest in its manufacturing facility in Killeigh, Co Offaly and in product innovation and branding.

"The board of directors have now determined that a return to full ownership by the Cleary family is in the business's best interest."

Glenisk Managing Director Vincent Cleary thanked Danone for its "support and involvement" over the years.

Glenisk, which is the official sponsor of Offaly GAA, said it had "a diverse workforce of almost 90 people," which was "growing all the time".