Kerry Group Announces Two Further Strategic Acquisitions
Kerry Group, the global taste, nutrition and consumer foods business, has announced that it has agreed to acquire Ariake USA, the North American Business of Ariake Japan Co, and Southeastern Mills North American coatings and seasonings business (SEM), both deals are subject to customary closing conditions. These acquisitions further enhance Kerry Group’s foundational technology portfolio, as well as strengthening its foodservice positioning in line with strategic growth priorities.
Total consideration for the acquisitions is expected to be about €325 million. These acquisitions have annualised pro-forma third-party revenues of approximately €125 million. Kerry Group will finance both acquisitions from existing lines of credit.
Ariake USA produces natural clean label savoury taste solutions derived from poultry, pork and vegetables at its facility in Harrisonburg, Virginia. Ariake USA’s highly specialised extraction technologies and development capabilities produce a suite of tailored solutions across a number of end use markets. This acquisition further enhances Kerry’s extensive authentic taste and clean label portfolio, whilst also complementing the group’s from-food-for-food heritage.
SEM manufactures coatings and seasonings at its strategically located manufacturing base in Rome, Georgia. This acquisition complements Kerry’s authentic taste portfolio and further develops the group’s industry leading offering into the meat end use market.
