THE property-to-food group Reox, that is 25% owned by Dairygold in north Cork, recorded huge losses in the year to June 30, 2010, of €30.7 million.

DAIRYGOLD has refused to comment on reports its former chief executive Jerry Henchy is suing the co-operative for up to €3 million in a dispute over the alleged non-payment of his severance package.

DAIRYGOLD yesterday announced the appointment of dairy science graduate Jim Woulfe as its new chief executive.

PROFITS before tax plunged from €15.9 million to €1.3m in 2008 at the north Cork-based Dairygold Group.

THE profit warning from Glanbia, the publicly-quoted international dairy group late last week, has heightened interest in the results for 2008 expected this week from Dairygold.

DAIRYGOLD Co-op has started the process of appointing a new chief executive to succeed the departed Jerry Henchy.

THE High Court has overturned the competition watchdog’s ruling preventing the Kerry Group’s original €165m takeover over of Breeo Foods consumer brands.

JERRY Henchy’s removal first as boss of Dairygold in January 2009 and then as chief executive of Reox yesterday points to a deep crisis within the overall group.

IT has been a turbulent few weeks for Jerry Henchy. In an unexpected announcement he was told at the end of January that his services as chief executive of Dairygold were no longer required.

FORMER boss of Dairygold Co-op Jerry Henchy has been removed as chief executive of Reox Holdings, which was spun out from the dairy operation in 2006.

NO suspension of share trading in Reox is expected following yesterday’s announcement that a number of management posts — including that of chief executive Jerry Henchy — are to be scrapped and “absorbed” into a revised management structure as a cost-saving measure.

THE former boss of Dairygold Co-op, Jerry Henchy, has been removed as chief executive of Reox Holdings, yet no explanation has been give to shareholders, employees or customers.

REOX Holdings has seen operating profits plunge from e20.8 million to e5.6m in the year to September 30, 2008.

A PRICE collapse of almost 50% in an 18-month period is a traumatic occurrence by any standards. In round figures, this is what has happened to Irish dairy farmers since the autumn of 2007.

KERRY Group is set to challenge the ruling from the Competition Authority that blocks its €165 million purchase of the food brands owned by Reox, the Dairygold spin-off.

DAIRYGOLD Co-op is preparing for a future without milk quotas, it disclosed yesterday when Agriculture Fisheries and Food Minister Brendan Smith visited its dairy processing facilities in Mitchelstown, Co Cork.

PEDIGREE cattle breeding could provide a new outlet for investors worried about the turbulence in the world financial markets.

REOX may be forced back into the marketplace to seek a repeat deal offering the “compelling value” which had swung its decision to sell its Breeo division to Kerry Group.

THE blocking of the Kerry bid for Breeo Foods caught a lot of people off guard, not least Kerry Group and Reox Holdings, the owners of Breeo.

MUNSTER breeders showed the overall champion and reserve, the senior and junior champions and the reserves at the Irish Aberdeen Angus Association’s All-Ireland finals at Tinahely Show in Co Wicklow.

THE Competition Authority is currently deliberating on two takeovers in the food and drinks sector.

DEPENDING on your perspective, the outlook for Irish agriculture has never been as positive.

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

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.

SUPPLIERS to supermarkets will struggle to sustain their margins as the big players in the Irish retail sector fight for market share.

DAIRYGOLD CO-OP, the country’s largest farmer-owned milk processor, yesterday announced a €500,000 investment in a three year on-farm dairy development programme in association with Teagasc.

KERRY GROUP has further increased the price it pays its suppliers for milk, due to continued improved returns from international dairy markets.

THE Netherlands has been targeted for major development by the consumer division of Reox Holdings, which has made substantial Dutch investments in recent years.

THE future of the Galtee Meats plant in Mitchelstown, Co Cork, was in doubt last night, despite an assurance by Reox Holdings that there are no plans at present to cease manufacturing operations in the town.

Roex Holding — the new business unit spun out from Dairygold Co-op last year — has announced its first major acquisition after spending €10m to take over a Dutch meat company.

THE fate of South Western Services (SWS) will be known before Christmas. The sale process will be handled by Merrion Capital and all sides are committed to the sale this time.

WITH so much momentum still driving the economy, it is easy to lose sight of the huge transition taking place in Irish agriculture.

TWO of the country’s leading brokers, Davy Stockbroker and Goodbody Stockbrokers have been appointed to deal in Reox Holding’s shares, due to start trading on the grey market next month.

DAIRYGOLD Co-op shareholders are in the happy position of plugging directly into the unstoppable Celtic Tiger economy, through the booming DIY and property sectors.

THE boss of Dairygold, Jerry Henchy, said yesterday the proposed plans for Dairygold “definitely gives us a co-op that is financially robust”.

THE boss of Dairygold, Jerry Henchy, said yesterday the proposed plans for Dairygold “definitely gives us a co-op that is financially robust”.

DAIRYGOLD has outlined plans to split the group into two independent operating divisions.