Kerry Group Sells Irish Dairy Business for Over £400M

Kerry Group has completed the sale of its Irish dairy business, Kerry Dairy Ireland, to Kerry Co-Operative Creameries (Co-Op) for £414.6 million (€500 million). The transaction follows a strong performance from the business, which manufactures popular dairy products like cheese and spreads sold in the UK and Ireland. Last year, Kerry Dairy Ireland reported net sales of £1.063 billion (€1.283 billion) and EBITDA of £44.2 million (€53.4 million).

The deal will be executed in two phases. Initially, Kerry Co-Op will acquire 70% of Kerry Dairy Ireland. Over the next few years, Co-Op will have the option to purchase the remaining 30% from Kerry Group, potentially leading to full ownership.

Kerry Group CEO Edmond Scanlon emphasized that the sale marks a significant milestone in the company’s 50-year history and aligns with its strategy of continuous business development and portfolio evolution. Following the sale, Kerry Group will focus entirely on its global business-to-business taste and nutrition operations, with a stronger emphasis on sustainable nutrition and long-term financial growth.

The move is part of Kerry Group’s ongoing transformation to become a leading global taste and nutrition solutions provider, building on recent developments in proactive health, food protection, preservation, and enzymes. In 2021, Kerry Group also sold its consumer foods’ meats and meals division to Pilgrim’s Pride Corporation for £704 million (€819 million).