Kerry Group Makes Further Strategic Acquisitions
Kerry Group, the global taste, nutrition and consumer foods business, has agreed to acquire Fleischmann’s Vinegar Company and AATCO Food Industries for a total consideration of €365 million. The acquisitions further expand Kerry Group’s foundational technology portfolio, as well as strengthening its foodservice and developing markets positioning, in line with its strategic growth priorities.
These acquisitions have annualised revenues of approximately €150 million. Kerry Group will finance the acquisitions from existing lines of credit and it is anticipated that the transactions will be completed prior to yearend, subject to routine regulatory and closing conditions.
Fleischmann’s Vinegar Company is a USDA certified all-natural producer of specialty ingredients that further support Kerry’s taste and clean label strategies across a number of end use markets. It is headquartered in California and has manufacturing facilities in Washington, New York, Maryland, Illinois, Missouri, Alabama and California.
AATCO Food Industries is a leading provider of culinary sauces to the foodservice channel. Headquartered in Muscat, Oman with manufacturing facilities in Sohar, Oman, Jeddah, Saudi Arabia and Nashik, India. AATCO Food Industries provides a platform for business development in the Middle East and Africa.