By Ian Walker 
 

Kerry Group PLC said late Thursday that it is selling its consumer foods' meats and meals business in the U.K. and Ireland to Pilgrim's Pride Corp. for 819 million euros ($975.1 million).

The Ireland-based food company--which houses Dairygold butter, Charleville cheese and Richmond sausages among its brands--said it will use the money raised from the sale for general corporate purposes and the continued strategic development of the taste-and-nutrition business.

Kerry said that after the sale it will "separate and realign" the remaining dairy-related activities within the consumer foods business. It said the review of the dairy business, which started in February, is now complete, and there will be no further disposals at this time.

The deal is expected to close in the final quarter of this year, the company said.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

June 18, 2021 01:57 ET (05:57 GMT)

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