Dairygold split must deliver long-term value

KERRY Group could be on the brink of taking over the Irish consumer food division of Reox Holdings, previously owned by Dairygold Co-op.

The on-off deal looks to be back on track and a contract could be signed this week. The market put a value of €170m on the business.

It is believed, however, Kerry was not prepared to fork out that much for the division that Reox boss Jerry Henchy had previously indicated he wanted to sell.