Kerry completes acquisition of Niacet

RNS Number : 6373L

Kerry Group PLC

14 September 2021

 

Date: 14 September 2021

LEI: 635400TLVVBNXLFHWC59 

KERRY GROUP   

Kerry completes acquisition of Niacet

Kerry Group plc ("Kerry"), the global taste & nutrition company, today announces that it has completed the acquisition of Hare Topco, Inc. trading as Niacet Corp. ("Niacet") from an affiliate of funds advised by SK Capital Partners, LP and other shareholders for €853m ($1,015m¹) on a cash-free, debt-free basis. The acquisition was first announced on 21 June 2021 . Niacet will now be integrated as part of Kerry's global food protection and preservation platform.

About Niacet

Niacet is a global market leader in technologies for preservation. It has clear leadership positions in Bakery and Pharma, and cost-effective low-sodium preservation systems for Meat and plant based food across both conventional and clean label solutions. Niacet is differentiated by its proprietary drying and granulation process technologies in its key market categories of Bakery, Meat and Pharma. The business has customers in over 75 countries and key manufacturing sites in Niagara Falls (USA) and Tiel (Netherlands).

About Kerry Group

Kerry is the world's leading taste and nutrition partner for the food, beverage and pharmaceutical industries. We innovate with our customers to create great tasting products, with improved nutrition and functionality, while ensuring better impact for the planet. Our leading consumer insights, global RD&A team of 1,000+ food scientists and local manufacturing footprint in 31 countries enable us to co-create with our customers across over 150 countries. At Kerry, we are driven to be our customers' most valued partner, creating a world of sustainable nutrition, and will reach over 2 billion consumers with sustainable nutrition solutions by 2030. For more information, vi sit www.kerrygroup.com .

¹The final cash consid eration is subject to customary completion adjustments and based on an exchange rate   of $1.19: €1.

Disclaimer: Forward Looking Statements

This Announcement contains forward looking statements which reflect management expectations based on currently available data. However actual results may differ materially from those expressed or implied by these forward looking statements. These forward looking statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update any forward looking statement, whether as a result of new information, future events or otherwise.

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

 

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