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Shares in Kerry Group this week were up a healthy 3.5% at €81.35. The rise in Kerry shares comes after it emerged the company had acquired Ojah BV, a Dutch company that manufactures substitute meat products from plant proteins such as peas and soya. Kerry is understood to have paid in the region of €20m for the business, according to industry sources.
The acquisition is subject to EU regulatory approval, which Kerry said it expects to receive from EU authorities in the next month.
Shares in Aryzta dropped a further 3% this week to €17.50. Aryzta’s share price has now fallen almost 50% since the start of 2018 as the company’s business in North America continues to cause headaches.
Shares in FBD rose a little of 1.5% this week to reach €12.50, while Donegal Investment group continues to be the star performer in 2018 of the listed agri-food companies. Shares in Donegal are currently trading at €8.85, which is almost a 20% increase since the start of the year.
Meanwhile, shares in Glanbia rose 3% in the week to €14.05. The Kilkenny-based company announced a number of changes to the senior management team at Glanbia Ireland this week.
Position updates
Current head of agribusiness Colm Eustace is to retire at the end of 2018 after 22 years with the organisation. CEO of consumer foods Colin Gordon is also set to leave at the end of this year after 12 years with Glanbia. Jim Bergin will continue as chief executive of Glanbia Ireland.
Seán Molloy, currently director of strategy and supply development, will take on the new role of chief agribusiness growth officer, overseeing the farmer-facing roles of agribusiness, including milk and grain supply.
Jim O’Neill, currently operations director, will take on the new role of chief operations and supply chain officer. Other changes include Mike O’Connor appointed to the role of chief quality and compliance officer and Francois Morgan taking up role of chief research and development officer.
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