Reports that Kerry Group and Co-op joint venture deal may be revived

It's reported that a joint venture deal between Kerry Group and Kerry Co-op, which was shelved last year, may be revived.

Kerry Group had been in discussions early last year with Kerry Co-op, in relation to potential joint venture whereby the Co-op would buy a 60% stake in Kerry's dairy business.

Negotiations broke down in April, but the Sunday Business Post reports that Kerry Chief Executive, Edmond Scanlon, told investors the company was still open minded about selling the dairy business.

According to the paper, Kerry Co-op's chairman Denis Carroll is also working on new proposals to bring to Kerry Group on how the Co-op would fund the purchase and what structure a deal would take.