Kerry Group Confirms Offer For Newmarket Co-operative Creameries
Kerry Group, the international ingredients, flavours and consumer foods group, has confirmed the terms of its offer to acquire Irish dairy processor Newmarket Co-operative Creameries for approximately Eur33m. The offer is subject to approval by Newmarket shareholders and by the Competition Authority of Ireland.
Stan McCarthy, chief executive of Kerry Group.
Newmarket Creameries, located in North Cork, is a leading manufacturer of cheese from a state-of-the-art cheese production facility. With an annual manufacturing capacity in excess of 35,000 tonnes Newmarket is a major supplier of cheese to Kerry Group’s branded cheese business.
“Kerry has market leading cheese technology capability and a leading cheese brand portfolio including its Charleville, Coleraine, Low Low and Cheestrings brands. The group has a long-standing business relationship with Newmarket Creameries and high regard for Newmarket cheese-making competency,” says Stan McCarthy, chief executive of Kerry Group. “Combining Kerry and Newmarket represents a positive growth and business development opportunity in the interest of all stakeholders in both companies.”
