29/11/2024
We’re delighted to have helped Kerry Group plc with documentation for its proposed €500m sale of Kerry Dairy Holdings (Ireland) Limited to Kerry Co-Operative Creameries Limited.
The proposed transaction will result in the two leading businesses, Kerry Group and Kerry Dairy Ireland, each better positioned to focus on their respective strategies and capital allocation priorities.
The transaction represents an important step in Kerry's evolution to becoming a fully dedicated global taste and nutrition solutions company. This follows the significant portfolio development over recent years including the build out of its proactive health, food protection and preservation, and enzymes platforms, while also divesting of the Consumer Foods Meats & Meals business and the Sweet Ingredients portfolio. The Proposed Transaction will result in greater portfolio clarity, a more simplified business structure, and increased capital deployment focus across Kerry's core taste and nutrition business, while further strengthening Kerry's ability to execute against its strategic priorities.
It also paves the Way for Kerry Dairy Ireland's long-term success by bringing consumer products and value-add dairy ingredient activities closer to the dairy farmers and broader dairy ecosystem, thereby creating a vertically integrated Irish Dairy player of scale, which will be one of the largest dairy processors in the country.
We’d like to wish both companies every success with this transformation deal.
Our thanks to our wonderful clients at legal advisers Arthur Cox LLP, acting for Kerry alongside financial adviser Goldman Sachs International and Sponsor J & E Davy; and for the Co-Op, financial adviser EY and legal adviser McCann FitzGerald LLP.
If you’d like to find out how we can help ensure the success of your transformational M&A deals, chat with us today: hello@blackandcallow.com
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