Kerry enlists Goldman to help seal largest Iseq company deal

Kerry Group has turned to Wall Street giant Goldman Sachs to help it seal what would be the largest deal carried out by an Iseq-listed company, according to sources.

Advice from the investment bankers at the US group have helped Kerry to pitch an offer said to have left it as the leading contender to buy a nutrition business currently being sold by US chemicals group DuPont de Nemours with a price tag of $25 billion (€22.5 billion).

It is believed that talks, centred around a share-based tie-up, are at a very advanced stage. It would double the size of Kerry, which has a market value of €20.5 billion, and allow it to leapfrog CRH to become the biggest component of the Iseq.

A spokeswoman for Kerry Group and spokesmen for Goldman Sachs and DuPont declined to comment.

A deal of this nature would see chief executive Edmond Scanlon, two years in the job, depart from Kerry’s historical strategy of focusing on small, bolt-on deals – including more than 200 purchases in the past 25 years alone. This has allowed it to build a global nutrition business with about €7 billion of revenues, selling ingredients to beverage, confectionary, culinary food and pharma companies.



Please enter your comment!
Please enter your name here