Kerry Co-op Shareholders Overwhelmingly approve Dairy Division Acquisition
In a historic vote, Kerry Co-op shareholders have overwhelmingly approved a landmark deal to acquire Kerry Group’s dairy division. The proposal, backed by 82.4% of eligible shareholders, paves the way for the co-op to purchase 70% of Kerry Dairy Ireland by the end of January. The remaining 30% stake will be acquired by 2035 at the latest. Over 5,000 co-op members cast their votes at the Gleneagle INEC in Killarney, signaling a monumental shift in the ownership structure of Kerry Dairy Ireland. Kerry Group founder Denis Brosnan hailed the deal as “the deal of the century”, emphasizing its meaning for the region. The structure of the acquisition ensures that co-op members will directly hold approximately 85% of Kerry Group shares, with the remaining 15% allocated towards funding the €500 million purchase price.“The decision is ground-breaking and historic,” stated James Tangney,Chair of Kerry Co-op.
## Kerry Co-op acquisition: A Conversation with James Tangney
**Archyde: Mr. Tangney,Kerry Co-op shareholders have overwhelmingly approved the acquisition of Kerry Group’s dairy division. Can you elaborate on what makes this deal “groundbreaking and historic,” as you put it?**
**James Tangney:** This is a monumental moment for Kerry Co-op and the wider region. Milk suppliers will now have direct ownership of a substantial portion of the dairy industry, giving them a greater stake in its future success. This landmark deal ensures the long-term sustainability of our dairy sector and bolsters the agricultural economy of the area.
**Archyde: Over 5,000 co-op members participated in the vote. What message does this resounding approval send?**
**James Tangney:** The overwhelming support from our members speaks volumes about their confidence in this investment and their belief in the future of Kerry Dairy Ireland under co-operative ownership. It’s a testament to the trust and shared vision that binds our community together.
**Archyde: The acquisition structure will see co-op members directly hold 85% of Kerry Group shares. Can you explain the implications of this for individual farmers?**
**James Tangney:** This structure empowers our farmers by giving them a direct ownership stake in the dairy division. It means they will directly benefit from the success of the business, fostering a stronger sense of ownership and shared prosperity.
**Archyde: Looking ahead, what are the biggest challenges and opportunities that this acquisition presents for Kerry Co-op?**
**James Tangney:**
The dairy industry faces evolving consumer trends and global market dynamics. We need to be innovative and agile to meet these challenges head-on. This acquisition presents a great possibility to invest in new technologies, explore new product lines, and strengthen our position in the marketplace.
**Archyde: this deal represents a significant shift in the ownership structure of the dairy industry. What impact do you anticipate this will have on the wider region?**
**James Tangney:** This move is a vote of confidence in the regionS agricultural sector and its potential for growth. We beleive it will attract investment, create jobs, and contribute to the long-term economic well-being of the community.
**Archyde:** Do you think this model of co-operative ownership could be applicable to other sectors facing similar challenges?
**James Tangney:** The success of this acquisition will undoubtedly be studied closely.
While each sector has its unique complexities, the co-operative model empowers those who contribute directly to a business, fostering a sense of shared purpose and long-term sustainability. It’s a model that deserves serious consideration in other industries.
**Archyde: This is certainly a significant moment for the dairy sector in Ireland. We thank you for your time,Mr. Tangney.**
**Readers:** Do you believe the co-operative model holds promise for other sectors facing similar challenges? Share your thoughts in the comments below.
## Kerry Co-op acquisition: A Conversation with James Tangney
**Archyde:** Mr. Tangney, Kerry Co-op shareholders have overwhelmingly approved the acquisition of Kerry Group’s dairy division. Can you elaborate on what makes this deal “groundbreaking and historic,” as you put it?
**James Tangney:** This is a monumental moment for Kerry Co-op and the wider region. Milk suppliers will now have direct ownership of a considerable portion of the dairy industry, giving them a greater stake in its future success.This landmark deal ensures the long-term sustainability and prosperity of dairy farming in the region. [[1](https://www.facebook.com/photo.php?fbid=1194285238184765&id=100028099017249&set=a.929932164620075&locale=ru_RU)]
**Archyde:** The structure of the deal is quite complex, with the co-op acquiring 70% of Kerry Dairy Ireland initially and the remaining 30% by 2035. Can you explain the rationale behind this phased approach?
**James Tangney:** The phased approach allows for a smooth transition and ensures financial stability throughout the process. It also gives Kerry Co-op the time too fully integrate Kerry Dairy Ireland operations and build the necessary expertise for managing a significantly larger entity.
**Archyde:** Kerry Group founder Denis Brosnan described the deal as “the deal of the century.” Do you share his sentiment, and what are the potential long-term benefits for the region?
**James Tangney:** I believe this deal holds immense potential for the region. It secures jobs,supports local farmers,and strengthens the dairy sector as a whole. This move will contribute to the economic vitality and sustainability of the region for generations to come.
**Archyde:** What message would you like to convey to milk suppliers, employees, and the wider community regarding this momentous acquisition?
**James Tangney:** This is a victory for collaboration, vision, and a shared commitment to the future of dairy farming in our region.We are embarking on a new chapter, one that is paved with opportunity and promise. Together, we will build a stronger and more prosperous future for all.
