Sector News

Kerry buys out Chinese flavor and fragrance firm

May 30, 2017
Consumer Packaged Goods

The Kerry Group has strengthened its portfolio by acquiring one of China’s premier players in the food ingredients sector – buying 100% of Tianning Flavour & Fragrance (Jiangsu) Co. Ltd.

Terms of the transaction have not been disclosed, however, the Ireland-based food company has significantly boosted its presence in the supply chain with this latest acquisition.

The Chinese enterprise manufacturing fragrance and flavor company is located in Qing Pu Industry Park in the western part of Shanghai with a total area of 20000 square meters.

Leader in cross-border investment banking, BDA Partners, confirms that its client, Kerry Group, has successfully acquired Tianning Flavour & Fragrance in a recent statement.

“BDA acted as exclusive financial advisor to Kerry from identification of the opportunity through to its execution. The acquisition significantly increases Kerry’s presence in the supply chain serving major food and beverage manufacturers throughout China,” it says.

Tianning Flavours is one of China’s premier players in the food ingredients sector, adds BDA, and since its founding in 2005, it has supplied both domestic and international food and beverage customers with a range of innovative and high-quality flavors and fragrances.

Tianning Flavours has also established a nationwide sales network, with branch offices in key locations including Shanghai, Guangzhou, Wuhan, Zhengzhou, and Shenyang.

“This transaction is a clear demonstration of BDA’s cross-border buy side advisory capability for sophisticated clients looking to further develop their presence in Asia via acquisition. We wish Kerry all future success as the new owners of Tianning Flavours,” said Mark Webster, Partner and Managing Director of BDA, based in Shanghai.

Kerry Foods markets some well-known brands in the chilled food sector, including LowLow cheese and low-fat spreads, Cheestrings, Dairygold, Charleville cheese, Richmond, Wall’s, Mattessons, and Denny, Ireland’s leading brand for sausages and cooked meats.

At the time of writing, a request for more information from the Kerry Group, had not been answered.

By Gaynor Selby

Source: Food Ingredients First

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