Kerry Group’s proposal to sell its milk processing business makes sense on paper but emotions run high ahead of next month’s shareholder votes.
For years, Glanbia’s performance trailed behind Kerry’s. The tide is now turning.
New figures from the listed food technology giant and the Waterford meat processing family business reveal different strategies to navigate the same environment.
The Irish multinational has minimised the importance of physical ingredients in its technology-driven business model, insulating last year’s profits from rising food prices. A record US food safety fine to be imposed this year does not even register in annual accounts.
As multinationals flee Moscow in the wake of the invasion of Ukraine, the Irish food giant argues it still has unspecified “legal obligations” in Russia and Belarus.
The food processing giant and Siptu have been battling over pay and benefits at a Co Cork factory for a long time. The outcome of their Labour Court case illustrates the growing tension on the employment market.
Kerry Group has regained most of the ground lost to Covid-19. As it prepares to complete the sale of its consumer foods division, the core taste and nutrition business looks increasingly like a pharmaceutical multinational acquiring innovations to bolt onto a central industrial and commercial platform.
Kerry Group has agreed to sell its meats and meals business for €819 million to Pilgrim's Pride. Staple foods like bacon and sausages were the foundation on which Kerry built its empire, but the reality is that the technology-focused group no longer needs them.
As the food technology group recovers from Covid-19, its chief executive Edmond Scanlon answered a series of questions on the way it picks, conducts and reports acquisitions. The future of its dairy and consumer foods businesses is far less clear.
An unknown organisation with no other apparent resources than an internet connection caused a brief but significant share price drop on Thursday. What is behind its claims against Kerry’s acquisition strategy?
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