Kerry announces further strategic acquisitions

RNS Number : 1036F

Kerry Group PLC

25 October 2018

 

25 October 2018

Kerry Group

Kerry announces further strategic acquisitions

Kerry, the global taste & nutrition and consumer foods group, today in conjunction with its Investor Day in Singapore, announced it has reached agreement to acquire Fleischmann's Vinegar Company Inc and AATCO Food Industries LLC. These acquisitions further expand the Group's foundational technology portfolio, as well as strengthening its foodservice and developing markets positioning, in line with its strategic growth priorities. Total consideration for the acquisitions is expected to be €365m. These acquisitions have annualised revenues of approximately €150m. The Group will finance the acquisitions from existing lines of credit and it is anticipated that the transactions will be completed prior to year-end, subject to routine regulatory and closing conditions.

Fleischmann's Vinegar Company, Inc is a USDA certified all-natural producer of specialty ingredients that further support Kerry's taste and clean label strategies across a number of End Use Markets. It is headquartered in California and has manufacturing facilities in Washington, New York, Maryland, Illinois, Missouri, Alabama and California.

AATCO Food Industries LLC is a leading provider of culinary sauces to the foodservice channel. Headquartered in Muscat, Oman with manufacturing facilities in Sohar, Oman, Jeddah, Saudi Arabia and Nashik, India. AATCO Food Industries provides a platform for business development in the Middle East and Africa.

Contact Information

Media
Catherine Keogh	VP Corporate Affairs & Communications	[phone]	[e-mail]
Investor Relations
Marguerite Larkin	Chief Financial Officer	[phone]	[e-mail]
William Lynch	Head of Investor Relations	[phone]	[e-mail]
Website
www.kerrygroup.com

 

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