Irish ingredients giant Kerry Group has announced that it has completed the acquisition of preservatives maker Niacet.
The demand for technologies that preserve freshness, extend shelf life and reduce food waste is accelerating worldwide.
The acquisition will strengthen Kerry Group’s leadership position in the industry by adding complementary technologies that will result in an increased selection of preservation solutions and innovative food protection systems.
It will support Kerry and its broad global customer base in solving the world’s most complex food protection challenges.
An 'Important Acquisition'
Neil Cracknell, president and chief executive of Kerry Applied Health and Nutrition, said, “We have long admired Niacet and its market-leading technologies, commitment to innovation and quality of its people. Through this important acquisition, we are combining two great companies who share the same dedication to science and innovation, to develop innovative new technologies for food preservation, pharmaceutical applications and animal nutrition.
"We look forward to working with the Niacet leadership team and all of our Niacet colleagues to complete this integration successfully and swiftly.”
Niacet is a leading name in preservation, and the business complements Kerry’s extensive portfolio of food protection and preservation technologies and processes.
The acquisition will allow Kerry to build on the commercial reach of Niacet’s market-leading brands by adding the breadth and depth of its global network, innovation and application centres of excellence, as well as its taste and nutrition expertise.
CEO of Kerry commented, Edmond Scanlon, stated, “We have a vision to create a world of sustainable nutrition which is about providing nutrition which has less impact on the earth’s resources. Reducing food waste is a key component of this, and one of the most effective ways to reduce food waste is through preservation where even one extra day of shelf life can have a hugely positive impact.”
Kelly Brannen, CEO of Niacet, added, “This is an exciting time for Niacet and it is a great opportunity for both companies. Working together, we will grow Niacet at a much faster rate and sell in new markets around the world. We are very pleased to become part of the Kerry organisation.”
The acquisition, announced in June of this year, is valued at €853 million.