Newmarket Creameries accepts Kerry Group offer

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The sale of Newmarket Creameries to Kerry Group moved a step closer on Monday when 82.49 per cent of Newmarket shareholders accepted a take over bid of €421 per share.

On 12 August 2010, global ingredients, flavours and consumer goods supplier Kerry Group confirmed the terms of its offer to acquire the entire issued shared capital of the Cork-based cheese manufacturer. Including its entire issued shared capital plus debt, Newmarket has been valued at about €33m.

The transaction will be completed upon approval from Newmarket’s shareholders and Irish competition authorities.

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