Analysts welcome Kerry’s €33m offer for Newmarket

MARKET analysts reacted positively yesterday to Kerry Group’s €33 million bid for Newmarket Co-op.

Paul Meade, of securities firm NCB, said the acquisition of one of the largest cheese manufacturing facilities in Ireland fills a gap in Kerry’s dairy manufacturing portfolio.

Newmarket’s facilities are modern and its growth in recent years focused on contract manufacturing natural cheese for many third parties including Kerry, he said.