Kerry sells meat business to JBS-owned Pilgrim’s Pride

United Kingdom/Ireland/Brazil
Published:  21 June, 2021

Taste and nutrition partners for the food, beverage and pharmaceutical industries, Kerry Group has announced an agreement to sell its Consumer Foods’ Meats and Meals business in the UK and Ireland to Pilgrim’s Pride Corporation for a cash consideration of €819 million subject to routine closing adjustments. Pilgrim’s Pride is 80% owned by the world’s largest meatpacker, JBS.

The Meats and Meals business is a provider of convenience food solutions. The financial results for the year ended December 31, 2020, were revenue of €828 million, EBITDA of €86 million and profit before tax of €63 million.

The Meats business is a manufacturer of branded and private label meats, meat snacks, food-to-go and meat-free products in the UK and Ireland. Its brands include Richmond, Denny, Galtee, Fridge Raiders and Rollover.

Edmond Scanlon, CEO of Kerry, said: “This transaction further enhances Kerry’s focus as a leading business to business ingredient solutions provider for the food, beverage and pharmaceutical markets.”