Kerry Group Expands Global Taste & Nutrition Portfolio With $735 Million Move

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Kerry Group Expands Global Taste & Nutrition Portfolio With $735 Million Move

Kerry Group Expands Global Taste & Nutrition Portfolio With $735 Million Move
October 16
10:27 2015
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Kerry, the global taste & nutrition and consumer foods group, has announced the acquisition of three US-based businesses – Red Arrow Products, Island Oasis and Biothera Inc’s Wellmune® business – to significantly expand its industry-leading portfolio of innovative taste and nutrition solutions for global food, beverage and pharmaceutical applications. Total consideration for the three businesses amounts to US$735 million. In the financial year 2014, the businesses being acquired generated annual revenues of US$301 million and earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$59 million. Kerry Group will finance the acquisitions from existing lines of credit.

Red Arrow Products is a leading supplier of natural smoke flavours and authentic natural savoury grill flavours serving meat, culinary and food industry markets worldwide. Headquartered in Manitowoc (WI), Red Arrow operates from manufacturing facilities in Manitowoc (WI) and Rhinelander (WI) supported by Application & Development Centres in Germany and Sweden. Combined with Kerry’s recent acquisition of Wynnstarr Flavors and KFI Savoury (the US-based savoury business of Kraft Food Ingredients), the acquisition of Red Arrow will further strengthen Kerry’s taste, technology and savoury flavour industry leadership. The acquisition, subject to regulatory approval, is expected to complete in early December.

Kerry_colorlogo_whiterule [Converted]Island Oasis is a category leading provider of all-natural premium cocktail mixes and customised beverage solutions serving ‘on-premise’, restaurant, leisure and hospitality segments of the US market. Distributed and marketed though national and regional chains, QSR’s and independents, the Island Oasis portfolio includes innovative frozen and shelf-stable fruit purées, coffee blends, performance nutrition beverage systems and customised ‘on-premise’ beverage equipment. Headquartered in Walpole (MA), the business operates from manufacturing facilities in Byesville (OH) and Buffalo (NY). Its market-leading brands, including Island Oasis, Fuel and Barista Fria, complement Kerry’s existing branded foodservice offerings (including DaVinci Gourmet, Big Train, Oregon Chai, Golden Dipt and Gold Ladle), broadening the group’s market reach and service in fast growing segments of the foodservice channel.

KerryGroupIngredientsBannerBiothera Inc.’s Wellmune® business produces and markets the unique Wellmune® branded natural food, beverage and supplement ingredient clinically proven to strengthen the immune system – improving health and wellness. Kosher, Halal, non-allergenic, GMOfree, gluten-free and ‘Informed Sport’ certified, Wellmune® is formulated in a growing number of food, beverage and supplement products in more than fifty countries throughout the world. The acquired business broadens Kerry’s functional nutritional ingredients and wellness portfolio and complements the group’s market-leading taste solutions for food, beverage and supplement applications.

Stan McCarthy, chief executive of Kerry Group, comments: “The acquisitions of Red Arrow, Island Oasis and Wellmune®, as well as significantly expanding our taste and nutritional solutions portfolio, bring a number of important innovative technology platforms to Kerry. Complementing our existing taste and nutrition leadership positioning and growth strategies, the businesses being acquired present tremendous growth opportunities throughout Kerry’s global developed and developing markets.”

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