London, Aug 10, 2005
Ron Malhotra
NRI press
NRI, (non-resident Indian) ready-made Asian food
producer Noon Group sold for 124 million pounds to
Kerry Foods in a major expansion of its UK chilled
ready meals business.
Noon produces a range of Indian, Oriental, Thai and
other Asian and international cuisine ready meals,
snacks and accompaniments, principally for major UK
multiple retailers.
The UK chilled ready meals market valued at £1.4bn
(€2bn) continues to exhibit annual growth rates
of 5% to 7% per annum. UK market sector is achieving
high double digit growth rates
Sir Gulam Noon will continue to be its non-executive
chairman for the present. Shares in Kerry were 0.2
percent higher at 20.50 euros by 10:30 a.m., in line
with the broader Irish stock market.
