Kerry Group has announced the acquisition of three US companies in deals worth over €640 million.
It’s the latest expansion for the company in the United States in recent years. In a statement this afternoon, Kerry Group says it has acquired three US-based companies, all of which are in the nutrition sector. Red Arrow Products produces smoke and grill flavours and is expected to come under Kerry ownership in December. Wellmune markets natural foods and supplements while the third acquisition, Island Oasis produces cocktail mixes and beverages for the hospitality industry. The acquisitions are valued at 735 million dollars or 642 million euro. Kerry Group says it will be financing the takeovers from current credit lines and will not need to raise more debt. Chief Executive Stan McCarthy says the development represents a significant expansion in the company’s taste and nutritional portfolio.