Kerry to remain cautious on acquisitions

KERRY Group may be forced to settle for “bolt-on acquisitions” in the period ahead as equity funds gobble up food and other companies to sell for big profits.

While interested in serious deals, the group’s chief executive, Hugh Friel, said he would not “compromise shareholder value” by paying through the teeth for a business that could not justify the amount paid for it.

In effect, private equity firms are increasing what they have been prepared to pay for firms, ruling out a number of deals for Kerry.