Kerry Group has confirmed that it has paid €171m (US$230m) for Cargill Flavor Systems, subject to closing adjustments.
Cargill's global flavours business has well-established international flavour technology development expertise, serving a global customer base. The company has annual revenues of around €149m (US$200m).
The business employs 700 people in France, Britain, South Africa, India, Malaysia, China, the USA, Puerto-Rico, Mexico and Brazil.
Meanwhile, Fonterra has recorded record earnings of €11.6bn for the year ending July 31.
A bumper year for dairy exports and strong performances by the co-op's overseas businesses saw Fonterra's profits increase by 13pc to €448m.
Safety calls for tractors
Momentum is building for the introduction of compulsory farm safety training and NCTs for tractors following the publication of a report from the National Rural Network.
The author of the report, agricultural consultant Richard Hackett, recommends safety training becomes obligatory for farmers if safety levels are not improved on farms through voluntary measures.
His study recommends a programme similar to the 'Safe Pass' training, which is compulsory for construction workers.
The report also suggests that completion of farm safety training should be linked to eligibility for EU support. It also proposes that completion of safety documents should be a requirement for participation in farm schemes.
Another recommendation is a NCT for all agricultural tractors. This idea, initially targeted at agricultural contractors, is being examined by the Department of Transport.
However, Mr Hackett believes that with the greatest number of accidents caused by older tractors, a national testing programme should be introduced as a condition of tractor insurance.
Cattle kills up in August
Cattle kills at the factories increased by 2.5pc in August compared with last year, but overall the national kill is still running at 4.4pc lower than the same period last year.
The sheep kill decreased by 0.8pc but the pig kill was up by a significant 13.5pc.