Irish company sells primary UK poultry operations
In a drive to combat flat earnings, Ireland's largest
food company, Kerry Group, has sold its primary poultry processing operations in
Britain and Ireland.
The Kerry Group
has confirmed it has sold its Grove Farm operations in Monaghan, Ireland to its three key executives, Tom O'Driscoll, Stephen O'Halloran and Brendan McGuire, all long-term group employees.
The group's Redgrove operation, based in Norfolk, Britain, has been bought by Grissingham Foods. The Redgrove operation is involved mainly in the production of ducks.
The operations were sold for an undisclosed price.
The sales form part of a plan announced in September last year, when the group said it intended to sell or close 11 manufacturing sites, with the aim of adding 0.25 basis points to the group's overall margin.
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