Agribusiness

Ex-Kerry boss warns that Co-op farmers must find way to fund dairy buyout or face legal action

Denis Brosnan, who drove Kerry Group’s expansion into a multinational, warned farmers they are running out of time to reach a deal for the business

Former Kerry Group boss Denis Brosnan: ‘only a matter of time before the non-farmers commence High Court action under shareholder oppression law’. Picture: Fergal Phillips

Dairy farmer shareholders in Kerry Co-op must find a way to fund a potential €600 million deal to buy Kerry Group’s legacy dairy business, or risk facing legal action by non-farmer shareholders, Denis Brosnan, the veteran Irish business titan, has warned.

Speaking to the Business Post, Brosnan said it makes no sense that dairy farmers currently control all of the board seats in Kerry Co-op despite owning less than one third of the shares in ...