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Kerry Group’s rumoured consumer division sale makes strategic sense , believe equity analysts Irish ingredient giant Kerry Group has made no comments on speculation it is considering a strategic review of its Consumer Foods division.
According to a Bloomberg report quoting ‘people familiar with the matter’, the company is reviewing its ownership of Kerry Foods, which produces chilled meat and dairy products including Charleville cheese, Cheestrings, Dairygold spread, and Richmond sausages. The move, potentially worth ‘billions of euro’, could free up money for acquisitions in its largest and fast-growing Taste and Nutrition division. If it decides to proceed, it could pursue a sale or spin-off of part or all of the business next year.