Sector News

Kerry announces acquisitions of two companies for 325m euros

December 17, 2018
Food & Drink

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.

Source: FoodBev

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