January 14/Business World -- Kerry is to buy Breeo, the food division of Reox Holdings, for around 170 million euros ($246 millioin). Kerry, whose brands include Wall's sausages, Homepride flour and Cheesestrings snacks, had increased its price to knock out a rival bid by a private equity firm.

Reports said a deal could be reached as early as this week, adding that any sale would still need regulatory approval.

Reox was created in 2006 by Dairygold after it spun off its consumer food, home improvement and property divisions. Dairygold controls a 25% stake in Reox, with 75% held by around 7,500 shareholders. Breeo operates in Ireland, the U.K., Holland, Germany and the United States. Its stable of brands include Dairygold spreads and Shaws meats.

From the January 21, 2008, Prepared Foods e-Flash