13th Mar 2008 07:14
Kerry Group PLC13 March 2008 Press Announcement 13 March, 2008 Kerry Agrees to acquire Breeo Foods Kerry, the global ingredients & flavours and consumer foods group, todayannounced its agreement, subject to regulatory approval, to acquire Breeo Foods,a subsidiary of Irish based Reox Holdings plc. The proposed acquisition includes an attractive portfolio of leading added-valuedairy and meat product brands which are household names in Ireland. Breeo Foods'brands, including Dairygold, Galtee, Shaws, Roscrea, Mitchelstown, Calvita andSno, are marketed through all retail channels in Ireland including multipleretail, symbol group and food-to-go outlets. Complementing Kerry Foods'chilled foods branded offering on the Irish market and Kerry's distributionnetwork, the proposed acquisition also includes Breeo Foods' chilled foodsdistribution service. The total consideration payable on completion of the proposed transaction is€165m. On a proforma basis per the last reported accounts, the business beingacquired had revenue of €188.5m, gross assets before liabilities of €58.5m andafter adjusting for exceptional items, interest and depreciation, the EBITDA ofthe business being acquired was €15.1m. The impact of the acquisition on theGroup is subject to the timing of the completion of the transaction and is notexpected to have a material impact on Group earnings per share in the currentyear. For further information please contact: Frank Hayes, Director of Corporate Affairs, Kerry Group plc. Tel no +353 66 7182304 Fax no +353 66 7182972 Kerry Web Site: www.kerrygroup.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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