Glanbia hit hard by covid but announces deal for canadian flavourings company

Glanbia has announced its half yearly results this morning.

The South East based multinational saw its debt reduced by €126 million during the six month period. Today, the company also announced the acquisition of Foodarom a flavouring business in Canada for 60 million Canadian dollars. Meanwhile revenue from its performance nutrition business was down 15.6% to €532 million for the six months to July 4th, while adjusted earnings within the division fell 58.2% to €19.6 million. Managing Director Siobhan Talbot says while the six months were difficult at an operational level, staff played a huge role in guiding the business in their branches throughout the South East.