Kerry Group loses €20m on collapse of deal

Kerry Group is set to lose €20 million on its proposed acquisition of Reox’s Breeo Foods business.

30th August, 2008

Kerry Group is set to lose €20 million on its proposed acquisition of Reox’s Breeo Foods business.

Kerry agreed to pay Reox €20 million in a non-refundable deposit when negotiating the purchase of the company. Last week the Competition Authority blocked the takeover, saying it would ‘‘substantially lessen’’ competition in the markets for rashers, cooked meats and processed cheese.

Breeo Foods’ brands include Dairygold, Galtee rashers and sausages, Shaw’s...

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