Kerry acquires 2 US companies worth a combined €325 million
Kerry Group has announced that it has acquired two North American companies in a deal worth a combined €325 million.
Making the announcement earlier today (Friday, December 14), the group revealed it has reached agreement to acquire Ariake USA, the North American Business of Ariake Japan Co, subject to regulatory approval and customary closing conditions, and Southeastern Mills North American coatings and seasonings business (SEM), subject to customary closing conditions.
Total consideration for the acquisitions is expected to be approximately €325 million, according to the firm.
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, Kerry notes.
SEM manufactures coatings and seasonings at its manufacturing base in Rome, Georgia.
According to a statement from Kerry Group, the acquisitions “further enhance the group’s foundational technology portfolio, as well as strengthening its food service positioning in line with strategic growth priorities”.
Earlier 2018 acquisitions
The move follows previous acquisitions earlier this year of Fleischmann’s Vinegar Company Inc and AATCO Food Industries LLC back in October. Total consideration for these firms was expected at the time to be €365 million.