Kerry Group Wins Appeal Over Breeo Acquisition

Breeo is the consumer foods division of Reox Holdings which was spun out of the Dairygold Co-operative Society, with brands including Shaws cooked meats, Dairygold, Galtee rashers and sausages, Mitchelstown cheese.

20/03/09 The Kerry Group has won its appeal against a Competition Authority decision to block its proposed deal to buy Breeo Foods, after a decision made in Dublin yesterday.

Breeo is the consumer foods division of Reox Holdings which was spun out of the Dairygold Co-operative Society, with brands including Shaws cooked meats, Dairygold, Galtee rashers and sausages, Mitchelstown cheese.

The Competition Authority had blocked the proposed €165m acquisition last August saying that it would 'substantially lessen competition' in the bacon, processed cheese and non-poultry cooked foods sectors. However Kerry Group Chief Executive Stan McCarthy now said the deal would now go ahead for 140 million euros, below the 165 million originally announced in March 2008.

Kerry Group's decision to appeal was the first time a ruling from the authority has been challenged in the courts.