Kerry Group sells pastry business to UK firm
The pastry unit – which produces foodstuffs including pies and quiches – has been bought by Pork Farms Ltd, a market leader in the sector with plants at Poole, Dorset and Spalding in the UK.
Kerry Group had signalled earlier this year that it was reviewing a number of business units within the group and says that the sale was well flagged.
Spokesperson Frank Hayes said that the Group had been in discussions with Pork Farms Ltd for a number of weeks. He added that ‘there are no plans to cut the workforce at our plant here in Kerry. The businesses are being aligned and merged into one organisations there are no plans for any restructuring.
He added that the reason for the sale followed aims laid out in Kerry Foods full year results. ‘We had signalled at our year end that we were focused on repositioning certain businesses within the Kerry Food Group portfolio’. The transaction includes Kerry Groups manufacturing, warehouse and bank office support functions at it’s Spalding and Poole sites. It also allows Pork Farms to make Kerry Foods Wall’s and Millers savoury pastry brand under licence. The sum involved has not been disclosed.
