Kerry Group PLC
11 April 2006
News Release
11 April 2006 For immediate release
Kerry announces further expansion of its North American sweet ingredients
business
Kerry, the global ingredients, flavours and consumer foods group, today
announced the acquisition of two North American food ingredients businesses -
Custom Industries and Nuvex Ingredients. The businesses with annual revenues of
US$83.7m were acquired for a total consideration of US$83m.
Custom Industries is a leading manufacturer of particulates for bakery and
ready-to-eat cereal applications and confectionery ingredients for sweet goods.
Operating from two modern manufacturing facilities located in St. Genevieve,
Missouri and Toronto, Canada; Custom has experienced strong growth through
leading food manufacturers, foodservice channels and regional bakeries.
Nuvex Ingredients operates from a state-of-the-art, organically certified,
production facility located in Blue Earth, Minnesota. Specialising in
customised high-protein and fibre nutritional lines, the business has
well-established core supplier relationships with leading manufacturers of
breakfast cereals, functional foods and nutritional snacks.
Commenting on the acquisitions, Hugh Friel, Kerry Group, Chief Executive, said :
'The acquisition of Custom Industries and Nuvex Ingredients is consistent with
our strategy of investing in and expanding the Group's technical capabilities in
nutritional and wellness food categories. Both acquisitions complement our
existing facilities in the U.S. and Canada, adding new proprietary technologies
and valuable production capacity to meet Kerry's growth plans'.
- ends -
For further information please contact: Telephone: + 353 66 7182304
Frank Hayes, Fax: + 353 66 7182972
Director of Corporate Affairs, email: corpaffairs@kerry.ie
This information is provided by RNS
The company news service from the London Stock Exchange
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