Kerry Co-op is planning to hold a ‘Special General Meeting’ (SGM) on the possibility of changing some of the co-op’s rules.
Sources have indicated to Agriland that the meeting is being scheduled for August.
The news comes as Kerry Co-op held its AGM on Tuesday of this week.
It is understood that recent issues in relation to Kerry Co-op that have generated significant coverage – including a potential purchase by the co-op of Kerry Group’s dairy related businesses – did not come up for discussion at the AGM.
It is understood that this issue will come up for wider discussion at the SGM.
Tuesday’s AGM was focused largely on ‘housekeeping’, i.e. accounts; appointment of officers; and other internal administrative issues.
Meanwhile, Kerry Group is focused on its recent transactions, which saw it agree to sell its meat and meals business and purchase a food preservation company.
Last week, the group announced an agreement to sell its consumer foods’ meats and meals business in the UK and Ireland to Pilgrim’s Pride Corporation.
The agreement was reached for a cash consideration of €819 million (£704 million) subject to routine closing adjustments.
The meats and meals business provides convenience food solutions.
Earlier this week, the group also announced that it had reached an agreement to acquire US-based food preservation company Niacet for €853 million ($ 1.015 billion).
Kerry said on Monday (June 21) that it had agreed to acquire Hare Topco (trading as Niacet Corp.) from an affiliate of funds advised by SK Capital Partners, LP (‘SK Capital’) and other shareholders on a cash-free, debt-free basis, subject to customary closing adjustments.
Niacet is a business involved in technologies for preservation. It has positions in bakery and pharma, and cost-effective, low-sodium preservation systems for meat and plant-based foods across both conventional and clean label solutions.
Niacet will be integrated into Kerry’s global food protection and preservation platform.