Kerry Group PLC Kerry Acquisition Announcement (6261X)
August 30 2022 - 8:02AM
UK Regulatory
TIDMKYGA
RNS Number : 6261X
Kerry Group PLC
30 August 2022
30 August 2022
LEI: 635400TLVVBNXLFHWC59
KERRY GROUP
Kerry acquires B2B powdered cheese business of Kraft Heinz
Kerry Group plc ("Kerry"), the global taste & nutrition
company, today announces that it has reached agreement to acquire
the business to business ("B2B") powdered cheese business and
related assets of The Kraft Heinz Company ("Kraft Heinz") for
consideration (1) of $107.5m. The business acquired has 62
employees and one manufacturing facility at Albany, Minnesota. This
asset acquisition is expected to close in the coming months,
enhancing Kerry's scale, manufacturing capability and customer base
in the important snacking category.
ENDS
About Kerry
Kerry is the world's leading taste and nutrition partner for the
food, beverage and pharmaceutical markets. 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 1,100+ food
scientists and extensive global footprint enable us to solve our
customers' complex challenges with differentiated solutions. At
Kerry, we are driven to be our customers' most valued partner,
creating a world of sustainable nutrition, and to reach over 2
billion consumers with sustainable nutrition solutions by 2030. For
more information, visit www.kerry.com .
(1) Final consideration is subject to customary completion
adjustments.
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.kerry.com
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END
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