Breeo ruling gives serious food for thought

THE blocking of the Kerry bid for Breeo Foods caught a lot of people off guard, not least Kerry Group and Reox Holdings, the owners of Breeo.

Unless Kerry successfully challenges the Competition Authority’s decision, then it loses its non-refundable €20 million deposit agreed when it entered negotiations to buy the company.

Both sides were confident the deal was a near certainty and it was expected the takeover would have been sanctioned after the authority had completed its review.