Kerry Group buys Newmarket in Ireland

Ireland’s Kerry Group is buying Newmarket Co-operative Creameries Limited for a price of EUR421 per share. The offer values the entire issued ordinary share capital plus debt of Newmarket Creameries at approximately EUR33m, subject to approval by shareholders and the Competition Authority of Ireland. “Combining Kerry and Newmarket represents a positive growth and business development opportunity in the interest of all stakeholders in both companies,” says Stan McCarthy, Kerry Group chief executive.