Barry’s Tea to create stir with Batchelor buyout

BARRY’S TEA is on course to make its first major acquisition with the €60m purchase of Batchelor Canned Foods from troubled British company Northern Foods.

Barry's Tea, which has generated consistently high profits over the last 10 years €6.1 million in the year to April 2002 on sales of €26 million has been running the rule over a number of potential Irish acquisitions and now seems set to swoop on Batchelor's.

Industry sources said Barry's, chaired by former Foreign Affairs Minister Peter Barry, were in the process of completing the normal pre-takeover due diligence investigation of Batchelor's operations and the verification of material facts.