Kerry Group chief executive Mr Denis Brosnan has said the group will look at possibly selling Golden Vale's liquid milk businesses in Northern Ireland and Wales once its €398 million (£505.4 million) takeover is completed.

Following the publication of Kerry's half-year results, Mr Brosnan said significant job losses were unlikely following the takeover and that most job losses would come about through early retirements and natural wastage.

"We don't see any significant redundancies," he said, adding that the only closures would probably involve some overlapping agri-sales and feed mill operations.

On the rationale behind the successful bid for Golden Vale, Mr Brosnan said: "Golden Vale is a company on our doorstep with a lot of synergies to offer, with very modern assets and trading on a very low multiple. It would have been extremely silly to ignore what Golden Vale had to offer. We will spend €500-600 million buying assets on our own doorstep."

On asset sales, Mr Brosnan said: "It's too early to say, but the milk processing operations in Northern Ireland and Wales will come under scrutiny."

And on Golden Vale's St Brendan's liqueur business, Mr Brosnan said: "It would take a lot of money to tempt us to sell it."

He added that Kerry hoped to close the acquisition within the next month but said this was subject to regulatory approval in Ireland and the UK.