The opening of a new innovation centre in Barcelona will enable Kerry Group to "work more closely with customers in the South European region" according to senior executives.

Kerry's new facility will focus on the food and beverage sector and will combine its current office in Barcelona with a new customer suite and applications labs.

The group said it will operate in conjunction with existing technology centres in Vigo and Granada and centres of excellence in Grasse in France and Mozzo in Italy.

The launch of the new centre in Barcelona brings Kerry’s investment in Iberia to more than €200 million in the last four years.

Juan Soto, vice president and general manager for Kerry South Europe, said:

“This investment will help us respond to our customers’ needs at pace, as we work closely together in partnership to deliver sustainable nutrition to consumers through our globally connected, locally led approach.

The Tralee headquartered group, which is listed on the Dublin and London stock exchanges, last month posted annual results for the year ending December 2022 which detailed a group revenue of €8.8 billion.

Edmond Scanlon, Kerry's chief executive officer, said the group "achieved record organic revenue growth against the backdrop of an exceptionally dynamic operating environment".

According to latest analyst reports from the credit ratings agency, S&P Global Ratings, Kerry's operating performance was better than expected and it believes Kerry is "well positioned in its industry to generate stable earnings and cash flow".

"We anticipate continued solid operating resilience in 2023 despite a slowdown in volume growth prospects amid weak consumer spending in Kerry's main end markets of packaged foods and beverages industries," S&P Global Ratings stated.