Kerry Group has announced that it has completed the sale of its Consumer Food’s meats and meals arm to Pilgrim’s Pride Corporation for €819 million (£704 million).
The sale, which was first announced in June this year, comes as the group reported a 13 per cent increase to €357 million, in its latest financial results.
According to the group’s results ended 30 June 2021, it reported a 4.9 per cent increase in revenues to €3.6 billion, reflecting a nine per cent volume increase.
READ MORE: Kerry Group sells Meats business for €819m
The meats manufacturers portfolio includes branded and private label meats, food-to-go products, meat snacks and meat-free products in the UK and Ireland.
Its brands include Fridge Raiders, Rollover, Richmond and Denny.
“Today marks a very significant milestone in Kerry Group’s evolution and I would like to thank all of the 4500 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,” Kerry Group chief executive officer Edmond Scanlon commented on the closure.
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.