Kerry Group is reportedly preparing to pull the trigger on the sale of its consumer food brands that include Denny, Richmond, and Cheestrings.
Market sources quoted by the Irish Independent said the company is expected to initiate a formal sales process to flush out buyers by the end of the first quarter.
Goodbody estimates the value of the business to be €650m, although a sale could see it split into Irish and UK components.
Read the full article on the Irish Independent website
NAM Implications:
- Global ingredients optimisation seems a logical option for Kerry.
- Whilst those closer to Kerry’s consumer categories now need to anticipate a piece-by-piece disposal.
- Thereby changing relative competitive appeal throughout…
- (anticipate similar disposals/amalgamations elsewhere)
