Kerry in talks to buy US ingredients giant
Irish-based ingredient and flavours company, Kerry Group has confirmed that it in talks with US rival Cargill, to acquire its global flavours business.
The talks are expected to last four to six weeks.
Kerry’s food ingredients business supplies more than 15,000 products to customers in more than 140 countries. The acquisition would provide a boost to its business, bringing Cargill’s production facilities in Europe, North America and Asia. Cargill’s flavours business spans 22 countries and provides ingredients and flavours for dairy, sweet and savoury categories and beverages.
Kerry Group chief executive Stan McCarthy said: “Kerry is a leading global food ingredients and flavours provider and a leader in development and delivery of consumer preferred taste solutions. The acquisition of Cargill Flavor Systems would again advance Kerry’s capability to provide unrivalled innovative integrated customer solutions across all food and beverage end-use-markets and extend the group’s market spread in emerging markets.”
As well as its ingredients business, Kerry’s Group is a supplier of added value brands and customer branded foods to the Irish and UK markets, including Wall’s, Richmond, Porkinson Bangers and cooked meat brand Mattessons.
The company has recently been referred to the Competition Commission after customers complained that its merger with chilled and frozen ready-meals business Headland Foods Limited, had led to steep price rises.
>Competition Commission investigate Kerry merger
- Irish based
- Porkinson Bangers