Kerry completes sale of its Foods Meats and Meals business

Kerry completes sale of its Foods Meats and Meals business

Kerry Group has completed the sale of its Consumer Foods’ Meats and Meals business to Pilgrim’s Pride Corporation for €819m (£704m¹). The sale was first announced on 17 June 2021.

TWO sites in Fermanagh and Monaghan which produce food brands Mattesson and Mr Brains have been sold by Kerry Group to Moy Park owners Pilgrim’s Pride for 819m euros (£700m). Kerry Group’s sites in Enniskillen and Carrickmacross employ around 800 staff, and also produce a range of Chinese, Italian and British ready meal brands.

The group’s site in Portadown is not part of the transaction.

Edmond Scanlon, Chief Executive Officer of Kerry Group said the sale “marks a very significant milestone in Kerry Group’s evolution and I would like to thank all of the 4,500 employees who transition to Pilgrim’s today for their contribution to Kerry over the years and I wish them the very best in the future.”

Pilgrim’s Food Masters

Following the acquisition, Pilgrim’s has announced the introduction of Pilgrim’s Food Masters, the group formed following the completion of its acquisition of Kerry Group plc’s Consumer Foods’ Meats and Meals business first announced in June 2021. Pilgrim’s Food Masters will continue to produce best-in-class convenience food solutions from its industry-leading manufacturing sites in the UK and Ireland.

The new name expresses Pilgrim’s Food Masters’ passion for creating outstanding-tasting food and commitment to world class innovation that meets the needs of changing consumer tastes. Under the Pilgrim’s Food Masters banner, the group will continue to innovate and help retailers unlock new opportunities to drive sales through trusted brands and products.

Nick Robinson, CEO, Pilgrim’s Food Masters, will continue to lead the group’s 4,500 team members across the UK and Ireland and will seek to accelerate the current growth trajectory. Pilgrim’s Food Masters will remain headquartered in the UK with team members across 11 sites including facilities in the UK and Ireland, and an extensive distribution network in both countries.

Nick Robinson said: “This is the start of an exciting new chapter in our history as we join the Pilgrim’s family and we’re feeling confident and ambitious about what the future holds.

Strong foundations

“We have a strong track record in delivering growth and as Pilgrim’s Food Masters we have the foundations of an already highly successful business. As one of the UK and Ireland’s leading food business, we remain committed to the communities and customers that we serve.

“I’d like to thank our valued customers, suppliers and partners for their ongoing support and trust in our business. As Pilgrim’s Food Masters, we will uphold our unwavering commitment to quality, service and value, and making a positive impact on the environment.”

Fabio Sandri, CEO, Pilgrim’s added: “We’re delighted to welcome new colleagues into the Pilgrim’s family who share our values and are passionate about sustainable growth. With a united vision to be the best and most respected company in our industry, we look forward to unleashing the expertise of the Pilgrim’s Food Masters team as they continue to innovate and create value in this exciting growth sector.”

Pilgrim’s employs approximately 59,200 people and operates protein processing plants and prepared-foods facilities in 14 US states, Puerto Rico, Mexico, the UK and continental Europe. The Company’s primary distribution is through retailers and foodservice distributors.