Co-op will take a 70% stake in Kerry Dairy Ireland, with an. option to buy remaining share by 2030
Kerry Group has agreed to sell its dairy processing division in two stages to its main shareholder, Kerry Co-op, in a deal worth €500 million.
The deal covers milk processing plants in the Republic and the UK and well-known brands such as Dairygold spreads, Charleville cheese and Cheestrings snacks.The fresh accord comes after previous joint venture talks between both sides broke down in April 2021 after 18 months of negotiations. Kerry Group rejected the co-op’s offer at the time for a 60 per cent stake in the dairy processing business that would have valued the entire business at €600 million.
Kerry Group will be entitled to a fixed dividend of €7.5 million per annum during the period of the joint ownership.
Kerry Dairy Ireland Kerry Co-Op
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