High Court clears way for Kerry’s €140m Breeo buyout

THE High Court has overturned the competition watchdog’s ruling preventing the Kerry Group’s original €165m takeover over of Breeo Foods consumer brands.

The price announced yesterday was cut by €25m to €140m to reflect the deterioration in the market since the initial bid was made.

It is well below the debts of Breeo’s parent group, Reox Holdings, which has built up borrowings of €170m since it was set up in May 2006.