Bloomberg sees possible Kerry divestitures | 2020-12-22 – Food Business News

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TRALEE, IRELAND — In a move that would allow the company to expand its core food ingredient business, Kerry Group PLC is exploring the possible sale or spinoff of its consumer foods business, according to Bloomberg.

The company’s Kerry Foods division sells refrigerated meat and dairy products with brands that include Richmond sausages, Dairygold spreads, Charleville cheese and Cheestrings snacks.  The company also makes Rollover hot dogs and Naked Glory meat substitutes.

Citing “people familiar with the matter,” Bloomberg said deliberations about the sale or spinoff are at an early stage. Edmond Scanlon, chief executive officer of Kerry, said in a November investment call that Kerry has a “strong pipeline of potential targets.”

The company’s US operations based in Beloit, Wis., offer a broad portfolio of ingredients, including emulsifiers, enzymes, texturants, cheese and dairy powders and prebiotics and probiotics.

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