€700m Kerry dairy deal ‘fell through over funding concerns’

Kerry Co-op boss said its offer for Kerry Group’s dairy business was rejected for being too low

18th April, 2021
€700m Kerry dairy deal ‘fell through over funding concerns’
Thomas Hunter McGowan, the Kerry Co-op chief executive, told a meeting of the company’s board that the talks had failed because the co-op’s offer was too low

Negotiations on a potential €700 million deal between Kerry Group and Kerry Co-op, the farmer-controlled investment company, fell apart last week, amid concerns that the co-op did not have sufficient detail on how it was going to fund the transaction, sources have told the Business Post.

Kerry Co-op had been in negotiations with Kerry Group on a deal for its dairy processing business for over a year before talks were suspended last week.

It is...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Former London-based investment banker to take over as DCC chair

Companies Lorcan Allen 6 hours ago

EML Payments halts trade of shares after Central Bank of Ireland raises regulatory concerns

Companies Lorcan Allen 21 hours ago

Battle lines drawn over Glanbia cheese plant as legal dispute returns to court

Companies Lorcan Allen 2 days ago

Dublin fintech firm Layer eyeing European and US expansion