Kerry Sells U.K., Irish Consumer Foods' Meats and Meals Business to Pilgrim's Pride
June 18 2021 - 2:03AM
Dow Jones News
By Ian Walker
Kerry Group PLC said late Thursday that it is selling its
consumer foods' meats and meals business in the U.K. and Ireland to
Pilgrim's Pride Corp. for 819 million euros ($975.1 million).
The Ireland-based food company--which houses Dairygold butter,
Charleville cheese and Richmond sausages among its brands--said it
will use the money raised from the sale for general corporate
purposes and the continued strategic development of the
taste-and-nutrition business.
Kerry said that after the sale it will "separate and realign"
the remaining dairy-related activities within the consumer foods
business. It said the review of the dairy business, which started
in February, is now complete, and there will be no further
disposals at this time.
The deal is expected to close in the final quarter of this year,
the company said.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 18, 2021 01:57 ET (05:57 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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