Dairy | Kerry Co-op chair says dairy sale secures best deal to end milk price arbitration

The chair of Kerry Co-op says reaction has been mainly positive since details of its deal to buy Kerry Dairy Ireland were announced.

The €500 million deal will involve Kerry Co-op taking over the dairy business of Kerry Group, in exchange for its 11% shareholding in Kerry Group plc.

The two-phase transaction will only go ahead if approved by the majority of the co-op’s shareholders at a special general meeting in December.

The deal will also bring an end to the long-running milk price dispute and related claims and arbitration between milk suppliers and Kerry Creameries Ltd, a subsidiary of Kerry Group, with a €50 million fund from Kerry Group.

Chair of Kerry Co-op James Tangney says this €50 million pot represents an 80% win for these suppliers, and this is the best deal possible to the arbitration.

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Topics |
Dairy, Kerry, milk price

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