Kerry Group completes first phase of Dairy Ireland division disposal

CEO of Kerry Group said today marks a 'significant step' in Kerry's history as it becomes a pure-play global taste and nutrition company

Edmond Scanlon, Chief Executive Officer, Kerry Group. PIC: NO FEE, MAXWELLS DUBLIN

Food group Kerry has completed the first phase of the sale of its dairy processing division to Kerry Co-op.

As part of the first phase, Kerry Group redeemed and cancelled the Co-op’s entire shareholding of 19m Ordinary Shares and issued a total of 16.1m new shares to the co-op Members to satisfy fractional share entitlements.