Kerry buys Cargill's flavour business
Irish-based ingredients and flavours company Kerry Group has confirmed that it will buy US rival Cargill’s global flavours business for US$230m.
The purchase, which was first mooted in July, will see Kerry boosted by acquiring Cargill’s production facilities in Europe, North America and Asia, which provides ingredients and flavours for savoury and sweet categories, dairy and beverages.
Kerry Ingredients & Flavours develops, manufactures and delivers technology-based ingredients, flavours and integrated solutions for food, beverage and pharmaceutical markets. Its food ingredients business supplies around 15,000 products to customers in more than 140 countries, employing 23,000 people across manufacturing and product development facilities in 23 countries.
A statement from the company said: “The acquisition of Cargill Flavor Systems will strengthen Kerry’s capability to provide integrated customer solutions across all food and beverage end-use markets and extend the group’s market spread in emerging markets.”
In addition to its ingredients business, Kerry 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.
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