The CEO of Kerry Group has said it would be completely inappropriate to comment on why talks between the company and Kerry Co-op on a joint venture deal were suspended.
The issue was raised during questions at the global taste and nutrition and consumer food business's AGM today.
Kerry Group's virtual AGM was told that despite the implications of the COVID-19 pandemic, the company had a resilient performance and strong recovery in 2020.
Revenue was €7 billion and trading profit for the year was €797 million.
CEO, Edmond Scanlon told shareholders he was most pleased about the strong business performance and momentum as Q1 2021 progressed.
During the AGM, a shareholder asked about the ongoing strategic review of Kerry Group's dairy business in Ireland and the UK and specifically why talks with Kerry Co-op on a joint venture deal were recently suspended.
Mr Scanlon said following the market announcement made by the company recently, they were not going to comment any further at this time.
He added it would actually be completely inappropriate to comment on any confidential discussions.
