Kerry Group Acquires Two North American Businesses For €325M
The Kerry Group, the global taste and nutrition, and consumer foods group, has announced that it has reached an agreement to acquire two North American Businesses for €325 million.
The group has agreed to buy Ariake USA, the North American Business of Ariake Japan Co, and Southeastern Mills (SEM) North American coatings and seasonings business.
Both deals are subject to regulatory approval and customary closing conditions.
The group said that these acquisitions ‘further enhance the Group's foundational technology portfolio, as well as strengthening its foodservice positioning in line with strategic growth priorities’.
Ariake USA produces natural, clean-label savoury-taste solutions derived from poultry, pork, and vegetables at its facility in Virginia.
Kerry said that the acquisition further enhances its authentic taste and clean-label portfolio, whilst also complementing its from-food-for-food heritage.
SEM manufactures coatings and seasonings at its strategically located manufacturing base in Georgia.
This acquisition also complements Kerry's authentic taste portfolio, and further develops the Group's industry-leading offering into the meat end-use market.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.