Glanbia today (Monday, June 2) announced the completion of a €50 million share buyback programme.

The purpose of the share buyback programme, which began on December 16, 2024, was to reduce the share capital of the company.

According to the plc, the share buyback also reflected its "strong cash flows and balance sheet position".

Glanbia has repurchased 4,073,073 ordinary shares on Euronext Dublin at an average price of €12.2757.

Following cancellation of repurchased shares, it will have 254,978,646 ordinary shares in issue.

Glanbia has a portfolio of "performance nutrition and healthy lifestyle brands".

In its latest interim management statement for the three-month period ended April 5, 2025, the plc indicated that quarter one 2025 performance had been "in line with expectations".

Hugh McGuire, Glanbia's chief executive officer, said it had delievered "revenue growth of 4.5% whilst navigating macroeconomic volatility and short-term headwinds in our Performance Nutrition division". 

The plc's biggest shareholder is currently Tirlán.

Last month, Tirlán confirmed that more than 11,000 of the co-op's members will benefit from a spin-out of €173 million worth of Glanbia plc shares.

The board of Tirlán 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.

According to the chair of Tirlán, John Murphy, the move will bring the total number of shares spun-out to over 63.5 million with a current value of over €731 million - based on the Glanbia plc closing share price of €11.51 on Friday 9 May 2025.

Following the completion of the spin-out, Tirlán co-op will still remain the largest individual shareholder in Glanbia plc, with 23.7% of the issued share capital.