The President of the ICMSA is hopeful talks between Kerry Group and Kerry Co-op on a joint venture deal may reconvene.
The comments follow an announcement last night that discussions on a potential transaction in relation to Kerry Group's dairy business had been suspended.
Kerry Group says a strategic review of its dairy business is continuing and a further update will be issued later this year; the company added there's no certainty the review will lead to a transaction.
President of the ICMSA, Pat McCormack says there will be a mixed reaction to the suspension of talks with Kerry Co-op.
However, he believes a significant proportion of milk suppliers want to be in control of their own destiny, rather than a third party taking over the business.
Mr McCormack say lessons need to be learned from the past few months in terms of communication with shareholders and milk suppliers who were angry and concerned by a lack of information.
He says the leading milk price issue needs to be resolved and if discussions are reconvened all parties will need to be as open and transparent as possible:
Deputy News Editor with the Irish Farmers' Journal, Jack Kennedy believes it is better for both sides to take a break from discussions.
He says Kerry Co-op stating it believes a fair valuation was put on the proposed transaction may indicate the offer was lower than Kerry Group expected.
Jack Kennedy believes the right deal could still be struck that would work for everyone:
