Kerry Co-op shareholders approve Board proposal to acquire Kerry Dairy Ireland
The proposal was approved by 82pc of eligible members present at a Special General Meeting of the Co-op held today in Killarney, Co. Kerry.
Commenting, James Tangney, Chairman of Kerry Co-op said: “I am very pleased that the A&B shareholders of Kerry Co-op have today voted in favour of the proposal.
“Today’s acceptance commences a journey that will ultimately lead to the full ownership of Kerry Dairy Ireland, one of the leading dairy businesses in the country, while it also releases c85pc of Kerry Co-op’s Kerry Group shares into the hands of our members to be retained or sold by each of them at a time of their choosing.”
He said the transaction is “transformational for Kerry Co-op and satisfies the diverse aspirations of the vast majority of our members.”
Kerry Co-op currently owns 16.1m shares in Kerry PLC, which hold a current market value of around €1.4bn.
The shareholders in Kerry Co-op — who include current milk producers, former milk producers, and a sizeable rump of…
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