An Irish company whose premium cheese and butter products are common items on U.S. refrigerated cases, could be the lead bidder for DuPont’s nutrition business.
The Irish Times reported the Kerry Group may be poised to undertake a $25 billion stock deal that would give the company a leadership position in nutrition and related products.
Under the deal, DuPont shareholders would own a slight majority of shares of Kerry. A portion of the business that does not fit in with Kerry’snutrition product lines could be sold off.
It has long been reported that DuPont Chairman Edward Breen wants to sell the business, which accounts for about 20 percent of total sales.
The company has shrunk since the merger of DowDuPont, thanks to the spin-off of Dow and DuPont agriscience businesses into Corteva. It did acquire the Dow semiconductor polishing business and a former FMC pill coatings plant. Both have plants in Newark.
The Irish Times story also noted that a gobbling up the DuPont business would lead to Kerry having only about 10 percent of its sales in the food business, which includes ham and other products. That could lead to the sale of the food business.
Contrary to a previous report in this space, Kerry does not own the Kerrygold brands of butter and cheese.