Kerry Group PLC Kerry completes acquisition of Niacet (6373L)
14 September 2021 - 4:00PM
UK Regulatory
TIDMKYGA
RNS Number : 6373L
Kerry Group PLC
14 September 2021
Date: 14 September 2021
LEI: 635400TLVVBNXLFHWC59
KERRY GROUP
Kerry completes acquisition of Niacet
Kerry Group plc ("Kerry"), the global taste & nutrition
company, today announces that it has completed the acquisition of
Hare Topco, Inc. trading as Niacet Corp. ("Niacet") from an
affiliate of funds advised by SK Capital Partners, LP and other
shareholders for EUR853m ($1,015m(1)) on a cash-free, debt-free
basis. The acquisition was first announced on 21 June 2021 . Niacet
will now be integrated as part of Kerry's global food protection
and preservation platform.
About Niacet
Niacet is a global market leader in technologies for
preservation. It has clear leadership positions in Bakery and
Pharma, and cost-effective low-sodium preservation systems for Meat
and plant based food across both conventional and clean label
solutions. Niacet is differentiated by its proprietary drying and
granulation process technologies in its key market categories of
Bakery, Meat and Pharma. The business has customers in over 75
countries and key manufacturing sites in Niagara Falls (USA) and
Tiel (Netherlands).
About Kerry Group
Kerry is the world's leading taste and nutrition partner for the
food, beverage and pharmaceutical industries. We innovate with our
customers to create great tasting products, with improved nutrition
and functionality, while ensuring better impact for the planet. Our
leading consumer insights, global RD&A team of 1,000+ food
scientists and local manufacturing footprint in 31 countries enable
us to co-create with our customers across over 150 countries. At
Kerry, we are driven to be our customers' most valued partner,
creating a world of sustainable nutrition, and will reach over 2
billion consumers with sustainable nutrition solutions by 2030. For
more information, vi sit www.kerrygroup.com .
(1)The final cash consid eration is subject to customary
completion adjustments and based on an exchange rate of $1.19:
EUR1.
Disclaimer: Forward Looking Statements
This Announcement contains forward looking statements which
reflect management expectations based on currently available data.
However actual results may differ materially from those expressed
or implied by these forward looking statements. These forward
looking statements speak only as of the date they were made, and
the Company undertakes no obligation to publicly update any forward
looking statement, whether as a result of new information, future
events or otherwise.
CONTACT INFORMATION
=============================================
Investor Relations
Marguerite Larkin , Chief Financial
Officer
+353 66 7182292 | investorrelations@kerry.ie
William Lynch , Head of Investor
Relations
+353 66 7182292 | investorrelations@kerry.ie
Media
Catherine Keogh , Chief Corporate
Affairs & Brand Officer
+353 45 930188 | corpaffairs@kerry.com
Website
www.kerrygroup.com
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END
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