A potential deal between Kerry plc and Kerry Co-op is back on the cards as recently appointed Kerry Co-op chair Denis Carroll has come out strongly in favour of making a deal for the plc-owned milk processing business.
For the last two weeks, the chair has met with advisory committees and interested stakeholders to outline his thoughts on the next co-op move for Kerry milk suppliers.
In what most dairy farmers have suggested is a very open, frank, and honest address to meetings, Carroll has set out his stall saying that he was always committed to a joint venture when trust has been rebuilt between Kerry plc and Kerry Co-op.
Some shareholders who are against any joint venture going ahead have suggested that a vote on any deal is necessary
For many suppliers, this will mean finding a solution to issues such as the leading milk price and ongoing arbitration issues.
Some shareholders who are against any joint venture going ahead have suggested that a vote on any deal is necessary and Carroll has committed to having a vote of shareholders for any proposed joint venture with the plc.
He told farmers that if the proposal is good enough it will be brought to shareholders.
The Irish Farmers Journal understands Carroll is in favour of a long-term joint venture once the co-op (farmers) have a controlling stake in the JV. Farmers believe Carroll is very much working to rebuild trust and relationships with Kerry plc following a sustained period where poor relations have fractured relationships between the farmers and Kerry plc management.