Kerry has acquired two US businesses for a total of €325 million, as it aims to strengthen its foodservice positioning.
Ireland-headquartered Kerry has reached an agreement to buy Ariake USA, the North American business of Ariake Japan Co, and Southeastern Mills’ North American coatings and seasonings business.
Ariake USA produces clean-label, savoury taste solutions derived from poultry, pork and vegetables at its facility in Harrisonburg, Virginia. Kerry said the firm’s extraction technologies and development capabilities produce a suite of tailored solutions across a number of end-use markets. The acquisition enhances Kerry’s authentic taste and clean-label portfolio.
Meanwhile, Southeastern Mills’ North American coatings and seasonings business manufactures coatings and seasonings at its base in Rome, Georgia. The purchase complements Kerry’s authentic taste portfolio and further develops its offering into the meat end-use market.
The acquisitions have annualised pro-forma third-party revenues of approximately €125 million.
In October, Kerry secured deals to buy Fleischmann’s Vinegar Company and AATCO Food Industries in a deal worth approximately €365 million.
California-based Fleischmann’s Vinegar Company produces ingredients such as balsamic vinegar, apple cider vinegar and wine vinegar, while Oman-based AATCO Food Industries makes a range of culinary sauces for customers in the foodservice sector.
Last week, Kerry signed a license agreement with Renaissance BioScience Corp to supply Renaissance’s Acryleast, a non-GMO acrylamide-reducing yeast enzyme, to food and beverage manufacturers as of 2019.
After eight years with Nestlé, François-Xavier Roger, executive vice president and chief financial officer (CFO), has decided to leave the company to pursue new professional challenges, making way for finance boss Anna Manz. Meanwhile, Unilever announced that Graeme Pitkethly, CFO, will retire by the end of May 2024, and the hunt is on for his successor.
International spirits company Bacardi Limited has announced the appointment of Alicia Enciso to its board of directors. Enciso joins with more than 30 years of experience with multinational Fortune 100 Companies in the food and beverage sector with roles as general manager, president, chief marketing officer and e-business officer.
According to Innova Market Insights, when it comes to beverages, consumers are willing to pay more for what they value most, despite rising inflation. Additionally, consumers want brands that respond to their core values and have the benefits they seek, such as sustainability and functional ingredients.