Following a board meeting on Wednesday, I understand that Kerry Co-op, the original group of farmers behind Kerry Group and still its largest shareholder, has entered a four-week due-diligence period before formalising a potential offer to regain control of the group’s domestic dairy processing business. The idea has developed since 2015, when angry farmers took the full brunt of a milk price crash while others supplying farmer-owned co-ops and Glanbia’s Irish joint-venture saw their processors dip into profits to soften the blow. The Kerry farmers have since won an arbitration case on the basis that their milk price was contractually…

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