Kerry bid for co-op at critical stage
Following months of detailed discussion and analysis, it is understood an offer document is now about to be issued.
Kerry Group has a very close working relationship with the Co Cork society which has an eight million gallon milk pool.
It emerged in January that Kerry intended to make an offer for the co-op which has a highly efficient cheese plant.
The purchase would give Kerry a cheddar cheese manufacturing facility aimed at the British market.
Newmarket has some 150 active suppliers and almost 700 shareholders. Last year, it completed a €16.8 million expansion of its cheese plant.
The possibility of a Kerry bid for the co-op was predicted in dairy circles over the past few years but neither side has formally commented on the proposed deal ahead of the offer document being issued.
