Kerry Group purchases UK food company.

Kerry Group has confirmed the purchase of UK food company Hibernia from the receiver. The buy out of the company with a 200 million euro turnover had been speculated for some time. It gives Kerry Group its first frozen food division and also removes some pricing pressure.Hibernia was in the process of a major rationalization process just before going into receivership and industry sources have indicated Kerry Group will continue this process. The price paid for the company has not been disclosed but a figure in the region of 10 to 15 million pounds sterling is estimated.

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