Farm Ireland

Monday 23 April 2018

Support for Kerry offer

Declan O'Brien

Declan O'Brien

THERE has been a positive farmer reaction to Kerry Group's €33m bid for Newmarket Co-op.

Local sources predict that the deal is likely to get the two-thirds shareholder support it requires from the special general meeting of Newmarket Co-op in Meelin on September 2.

An information meeting for shareholders is being held in Ballydesmond tomorrow, where officials from Kerry and Newmarket will outline details.

Kerry is to pay over €24m for Newmarket's 57,495 existing shares. A further €2.4m will be paid to active milk suppliers.

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