Corporate History

Introduction

This brief history traces the evolution and growth of Kerry Group from its modest beginnings in the south west of Ireland some 30 years ago into a successful, publicly traded, multinational corporation and leading player in the global food industry. Having commenced operation from a green field site in Listowel, Co. Kerry in 1972, the Kerry organisation has realised sustained profitable growth with current annualised sales of approximately €5.8 billion.

With operations established in 24 countries across five continents, European markets account for 57% of sales, American markets 31% and sales to Asia Pacific markets represent 12% of total Group sales.

Kerry Group is quoted on the Dublin and London stock exchanges, with a market capitalisation in excess of €7 billion and some 30,000 shareholders. Since its inception, Kerry’s Board, management and suppliers have progressively worked to grow the Kerry organisation and lead its evolution through three separate corporate entities;

(A) Private Dairy Processor
(B) Dairy Co-operative
(C) Public Company

Kerry’s origins date back to 1972 when as a private company, three shareholders; the State owned Dairy Disposal Company, a Federation of eight small farmer Co-operatives in Kerry and the Erie Casein Company Inc. from the US, committed to invest approximately €200,000 to finance a €1 million dairy processing facility in Listowel, Co. Kerry, for the manufacture of milk protein (casein) for export to the U.S.A.

Ownership of the company, then known as North Kerry Milk Products Ltd (NKMP) was shared with the Dairy Disposal Company holding 42.5%, the Federation 42.5% and Erie Casein 15%. The linkage to Illinois based Erie Casein provided a guaranteed market for the edible casein output, which was a relatively new dairy product for Ireland. In its first year NKMP processed 16 million gallons of skim milk to produce 2,000 tonnes of casein with a workforce of about 40 people and reported profits of €127,000 on a turnover of €1.3 million.