Kerry Co Op Shares

2 of the 4 companies you mentioned had pretty disastrous takeovers/mergers in recent times so at least there’s some sort of an explanation as to why their share prices are down

Dennis Brosnan said at an AGM a very long time ago “you either make dust or eat dust” when he was talking about takeovers etc in their industry. In the decades that have followed it’s been all consolidation in the industry.

I’m no expert but I think when Kerry missed out on Du-Pont that time to IFF that management knew deep down that Kerry’s faith was sealed, that eventually Kerry themselves would get swallowed up.

Givaudan have a new CEO taking over this year as far as I know, generally when a new CEO comes in there they like to make a big purchase. Givaudan’s PE ratio is 23.6 whereas Kerry’s is only 16.48.

Givaudan would probably want to structure it something like 50/50 cash and stock and would need to offer close to €80, they’d strip out Kerry then also. Biggest thing stopping it is monopoly laws etc

I remember back around 2006/07 Kerry shares peaked around €23.50… it was big money at the time. By 1/1/09 their share price had dropped down to €13.10…… the funny thing is, the shareholders have been here before with bad share price drops but the thing is that people have forgotten about it over the passage of time

That being said, I sold all my Kerry Group shares in 2017 for €76.10, I sold all my Co-op shares in 2021 for €570/share. I own 6 houses now, if I had held on to the shares and sold them today, by the time I’d have the CGT paid I’d only have the price of 1 house. Kerry’s share price drop only tells half the story. Money has become utterly worthless

I’m after seeing the best bit of news all year about Kerry in today’s Irish Farmers Journal

I was actually referring to the defector / former director named and shamed in the paper today.

Back when Mundy was chairman, I got the minutes of every single board meeting. I’d sit down and read them myself. Every meeting, every page, every last bit of it.

So I have come to my own humble opinion on what some of these former directors were like. 

I’m only speculating for this part but I’d be thinking myself the MDPO wouldn’t take in that same fella and that’s why he’s not with them 

I don’t think there’ll be many people in bed tonight staring at the ceiling worried about that Titan of the industry having left us 🤣

Great article by LRK in the IFJ

I’d be very concerned by the actions of Jim McInerny

In my opinion Jim only ever reached the advisory committee and Kerry Co-op board solely on parish politics—trading on local goodwill from playing hurling 30 years ago.

I am of the belief that Jim lacks business acumen; it would be my guess that he was put on the Kinisla board strictly to keep him from pissing into the tent from the outside. What I’ve heard at ground level and this article further strengthens my understanding that he is now standing inside the tent, pissing all over it anyway.

Only 25 people attended the meeting. Ten belonged to the MDPO travelling showband, and two were Kinisla directors (McInerny and one other). The remaining 13 consisted of nine milk suppliers and four of their family members.

Ultimately, we are looking at just nine milk suppliers in the entire county of Clare considering a move. Assume only three are actually ready to walk.

In my primary school class of 30, one did away with himself, one became a heroin addict, and another walks the town dressed as a woman. Every cross-section of society has its renegades; we cannot pander to them. McInerny capitulating to those three suppliers over accounts and contracts is an embarrassment.

As the largest collective shareholders in Kerry Co-op—and by extension, Kinisla—my family is not represented by Jim McInerny. While representatives from four separate co-ops have personally contacted me looking to break their contracts and join Kinisla, Jim is busy pandering to a few guys with a milk pool under a million litres. It is embarrassing.

My family invested in Kerry Co-op when Jim was still in his nappy, back when the global HQ was just a caravan in the Canon’s field in Listowel. We had the conviction to back a vision; Jim lacks the conviction to stand up to three suppliers. He’s the only Kinisla director that I do not want to see returned to the board when his term is up. 

Furthermore, Jim has totally undermined his fellow directors in Kinisla, its CEO, Chairman James Tagney, and Vice Chairman Conor Creedon; he owes them all an apology. When you are a Fianna Fáil or Fine Gael TD and things aren’t going your way in the Dáil, you can’t just stand up and say "this has nothing to do with me."