Kerry Group Acquiring Cargill’s Global Flavours Business For $230 Million
Kerry Group, the global ingredients and flavours and consumer foods group, has agreed to acquire Cargill’s global flavours business for $230 million. Cargill Flavor Systems has annual revenues of approximately $200 million.
Cargill Flavor Systems has well-established international flavour technology development expertise serving a global customer base through provision of flavour ingredients and flavour systems for beverage, dairy, sweet and savoury applications. The business has long-standing relationships with leading global food and beverage manufacturers and employs 700 people through its integrated flavour development and application centres in France, the UK, South Africa, India, Malaysia, China, the USA, Puerto-Rico, Mexico and Brazil, supported by a network of sales representative offices in tweleve other countries.
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. The transaction which is subject to regulatory approval is expected to be completed by year-end.
Serving a wide customer base in 140 countries, Kerry employs some 23,000 people across the group’s manufacturing and product development facilities in 23 countries and its network of international representative offices.
