Up to 82% of Newmarket members accept Kerry offer

Kerry Group has confirmed that it got 82.49% of the vote to accept its offer for Newmarket Co-operative Creameries Limited.

Last month, the food group announced the terms of its offer to acquire the entire issued share capital of Newmarket Cooperative Creameries Limited for a price of €421 per share.

This valued the entire share capital plus debt of Newmarket Creameries at approximately €33m.

Completion of the transaction is subject to approval by the Competition Authority of Ireland.

Newmarket Creameries, located in North Cork, is a leading manufacturer of cheese from a

state-of-the-art cheese production facility.

With an annual manufacturing capacity in excess of 35,000 tonnes Newmarket is a major supplier of cheese to Kerry Group’s branded cheese business.