Kerry Group PLC Kerry Completes Sale of Meats & Meals Business (9672M)
27 Settembre 2021 - 8:00AM
UK Regulatory
TIDMKYGA
RNS Number : 9672M
Kerry Group PLC
27 September 2021
27 September 2021
LEI: 635400TLVVBNXLFHWC59
KERRY GROUP
Kerry completes sale of its Foods Meats and Meals business
Kerry Group plc ("Kerry"or "Kerry Group"), the global taste
& nutrition company, today announces that it has completed the
sale of its Consumer Foods' Meats and Meals business to Pilgrim's
Pride Corporation for EUR819m (GBP704m(1)). The sale was first
announced on 17 June 2021 .
Commenting on the closure of the sale, Edmond Scanlon, Chief
Executive Officer of Kerry Group said: "Today marks a very
significant milestone in Kerry Group's evolution and I would like
to thank all of the 4,500 employees who transition to Pilgrim's
today for their contribution to Kerry over the years and I wish
them the very best in the future."
About Kerry Group
Kerry is the world's leading taste and nutrition partner for the
food, beverage and pharmaceutical industries. We innovate with our
customers to create great tasting products, with improved nutrition
and functionality, while ensuring better impact for the planet. Our
leading consumer insights, global RD&A team of 1,000+ food
scientists and local manufacturing footprint in 31 countries enable
us to co-create with our customers across over 150 countries. At
Kerry, we are driven to be our customers' most valued partner,
creating a world of sustainable nutrition, and will reach over 2
billion consumers with sustainable nutrition solutions by 2030. For
more information please visit www.kerrygroup.com .
About Pilgrim's Pride
Pilgrim's employs approximately 59,200 people and operates
protein processing plants and prepared-foods facilities in 14 US
states, Puerto Rico, Mexico, the UK and continental Europe. The
Company's primary distribution is through retailers and foodservice
distributors. For more information, please visit www.pilgrims.com
.
Note: The sale constitutes a Class 2 transaction for the
purposes of the Euronext Dublin Listing Rules and the UK Financial
Conduct Authority's Listing Rules.
(1) GBP704m comprises an enterprise value of GBP680m and working
capital and net debt adjustments of approximately GBP24m. The cash
consideration of EUR819m is based on an exchange rate of GBP0.86:
EUR1.
Disclaimer: Forward Looking Statements
This announcement contains forward looking statements which
reflect management expectations based on currently available data.
However actual results may differ materially from those expressed
or implied by these forward looking statements. These forward
looking statements speak only as of the date they were made, and
the Company undertakes no obligation to publicly update any forward
looking statement, whether as a result of new information, future
events or otherwise.
CONTACT INFORMATION
=============================================
Investor Relations
Marguerite Larkin , Chief Financial
Officer
+353 66 7182292 | investorrelations@kerry.ie
William Lynch , Head of Investor
Relations
+353 66 7182292 | investorrelations@kerry.ie
Media
Catherine Keogh , Chief Corporate
Affairs & Brand Officer
+353 45 930188 | corpaffairs@kerry.com
Website
www.kerrygroup.com
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END
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September 27, 2021 02:00 ET (06:00 GMT)
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