Kerry Group today announced its agreement, subject to regulatory approval, to acquire Breeo Foods, a subsidiary of Irish-based Reox Holdings.

KERRY Group could be on the brink of taking over the Irish consumer food division of Reox Holdings, previously owned by Dairygold Co-op.

WITH fears growing that the world economy is heading for recession, looking at the share prospects, or indeed the outlook, for the Irish food sector could hardly be described as a tantalising prospect.

REOX Holdings is close to a deal with Kerry Group, worth in the region of €170 million, for the sale of its Irish-based consumer foods division, run by its Breeo Foods subsidiary.

ION Equity is in talks with Reox Holdings that could lead to the €200 million purchase of its consumer brands that include Galtee, Dairygold, Mitchelstown, Shaws and Calvita.

TWENTY workers who make cheese products including Calvita at a factory in Co Cork are to be made redundant after the owners decided to shut the plant, it was announced last night.

IAWS, one of the country’s leading convenience food groups, has been linked to a €150m buyout of the consumer brands formerly owned by Dairygold Co-op.

THE possible sale of the Irish consumer foods business of Breeo Foods could realise more than €200 million, industry sources predicted yesterday.

Brian O’Mahony, Chief Business Correspondent