IRELAND: Kerry bid to buy Breeo breaks down
Kerry Foods is understood to have seen its plan to buy Irish firm Breeo Foods hit a stumbling block over price.
Last month, just-food reported that Kerry was close to signing a EUR171m (US$249.7m) deal to buy Breeo, according to a source familiar with the situation.
However, talks between the two sides are believed to have stalled with price rumoured to be a potential stumbling block.
A spokesman for Reox Holdings, the owner of Breeo Foods, refused to be drawn on the speculation but said the company would not agree to a sale unless there was "compelling value benefit to shareholders".
Kerry remained tight-lipped over the affair. "We have never commented on speculation at any stage," a spokesman said.
Breeo owns brands including Dairygold butter and Shaw's deli meats.
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