Kerry Group has said that the jobs currently with its Consumer Foods’ Meats and Meals business will remain as they are and will not be affected by its sale.
Kerry announced last night (Thursday, June 17) that it had agreed the sale of the meats and meals business to Pilgrim’s Pride Corporation for a cash consideration of €819 million (£704 million), subject to routine closing adjustments.
There are 4,500 employees with the business, across Ireland and the UK.
The meats business manufactures branded and private label meats, meat snacks, food-to-go and meat-free products in the UK and Ireland. Its brands include: Denny; Galtee; Fridge Raiders; Richmond; and Rollover.
The meals business primarily serves the UK market and specialises in ethnic chilled and frozen ready-meals, multi-cuisine ready-to-cook ranges and home-delivery meals under the Oakhouse brand.
Staff across various Kerry locations
The transaction is expected to close in the final quarter, subject to customary closing conditions and regulatory approvals.
A spokesperson for Kerry told Agriland that as it currently stands, nearly all the jobs and employees will automatically transition to Pilgrim’s Pride Corporation as part of the deal and that the nature of the jobs will remain as they are, and that Kerry is not expecting job losses as a result of the transaction.
Kerry’s sites and staff are based in various locations around Ireland and the UK. For example, there are 500 people working in Carrickmacross, Co. Monaghan, making around three million frozen meals every week.
900 employees are based at Kerry Foods in Shillelagh, Co. Wicklow, producing Denny, Richmond and Galtee products, along with several other brands.
A Kerry Foods location in Hyde is home to 490 employees, making all kinds of sausages, including Richmond.
Strategic review of dairy business completed
Edmond Scanlon, CEO of Kerry Group has thanked the 4,500 employees of the business for their contribution over the years.
Fabio Sandri, CEO of Pilgrim’s said he looks forward “to welcoming Kerry Consumer Foods’ Meats and Meals business’ talented management team and other team members, led by Nick Robinson, to the Pilgrim’s family”.
The proceeds from the sale will be used for general corporate purposes and the continued strategic development of Kerry’s Taste and Nutrition business.
Following this announcement, Kerry will separate and realign the remaining dairy-related activities within the Consumer Foods business. The strategic review of the dairy business has been completed and there will be no disposal of the dairy business at this time, the group added.
Pilgrim’s is the owner of Moy Park, a poultry and prepared foods company and Tulip Limited, a pork and prepared foods company in the UK.