Food group Kerry has agreed to buy Breeo Foods for €165m from Reox Holdings, the Dairygold Co-op spin-off.
Breeo Foods brands include Dairygold, Galtee rashers and sausages, Shaws cooked meats, Calvita and Mitchelstown cheese and Sno yogurts. It had revenues of €188.5m last year and profits of €15.1m.
Kerry said the deal includes Breeo Foods' chilled foods distribution service, which will complement its own chilled foods branding offering.
The company said that the impact of the acquisition on the group is subject to its timing and is not expected to have a material impact on earnings per share in the current year.
The deal is subject to regulatory approval. Kerry shares closed down nine cent at €18.51 in Dublin.
