Divisions emerge at Kerry Co-op over bid for Kerry Group’s dairy arm

The investment company’s board is divided over how to fund and structure proposed 60-40 joint venture deal

Edmond Scanlon, chief executive of Kerry Group: focus on taste and nutrition division Pic: Bryan Meade

A rift emerged last week within the board of Kerry Co-op as the farmer-owned investment company submitted a bid to buy Kerry Group’s dairy processing business.

Kerry Co-op has been circling a 60-40 joint venture deal for Kerry Group’s dairy business for more than a year now, but deep divisions have emerged within the co-op board over how to fund and structure the deal.

At a meeting last Tuesday, the Business Post understands there were ...