Kerry Group announced today that it has now completed the sale of its Consumer Foods Meats and Meals business to US poultry producer Pilgrim’s Pride for €819m (£704m).
The sale was first announced on 17 June.
The Meats operation manufactures brands including Richmond, Denny, Galtee, Fridge Raiders, and Rollover in the UK and Ireland. It also makes private label products and meat-free lines.
Meanwhile, the Meals unit primarily serves the UK market and specialises in chilled and frozen ready meals, ready to cook ranges, and home delivery meals under its Oakhouse brand.
The operations sold generated revenue of €828m last year – nearly 12% of Kerry’s €7bn turnover.
Edmond Scanlon, Chief Executive Officer of Kerry Group, commented: “Today marks a very significant milestone in Kerry Group’s evolution and I would like to thank all of the 4,500 employees who transition to Pilgrim’s today for their contribution to Kerry over the years and I wish them the very best in the future.”
The deal is part of Kerry’s plan to focus on its core Taste & Nutrition division, with some of the proceeds from the sale going towards the development of that business.
