Thursday 27 June 2019

Kerry Group announces two acquisitions in US for a total of €325m

Kerry Group CEO Edmond Scanlon
Kerry Group CEO Edmond Scanlon
Louise Kelly

Louise Kelly

Kerry Group has announced two acquisitions in the US for a combined consideration of around €325m.

The company said that it had reached agreement to buy Ariake USA and Southeastern Mills North American coatings and seasonings business (SEM), subject to usual conditions.

Today's acquisitions bring Kerry Group's merger and acquisition (M&A) spend to more than €800m year to date, its highest level since 2015.

Based at Harrisonburg, Virginia, Ariake USA further enhances Kerry's taste and clean label portfolio with its extraction technologies and development capabilities producing a suite of tailored solutions.

Southeastern Mills (SEM), meanwhile, bolsters the group's meat solutions offering and strengthens its food service positioning in line with its strategic growth priorities.

Kerry said that both acquisitions will be financed from existing lines of credit.

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