Kerry plans to acquire abroad as milk prices rise

Kerry Group is to make significant acquisitions in emerging economies in 2013, and predicts a stronger milk price in global markets.

Challenged by farmers attending Teagasc’s national dairy conference in the Brandon Hotel in Tralee yesterday, Kerry CEO Stan McCarthy also defended the group’s decision to locate its global technology innovation centre in Co Kildare.

Responding to Kerry IFA dairy chairman Ken Jones’s view that milk suppliers felt “let down” by the group’s low milk price in 2012, he defended the group’s milk supplier agreement, which delivers an end-of-year bonus rather than competing on a monthly basis with changing markets.