Kerry Group spends over half a billion euro on acquisitions

Kerry Group spent over half a billion euro (€502.2 million) on ten acquisitions last year.

The global taste and nutrition and consumer foods group, which has its headquarters in Tralee, published its preliminary results for last year today.

Along with ten acquisitions in 2018, Kerry Group has also reached agreement for two more at a cost over €325 million.

The group reported continued strong growth in the Asia Pacific, Middle East and Africa regions and group revenue rose by 3.5% to €6.6 billion.

Kerry Group’s Research and Development budget grew to €275 million.

The report says consumers are more demanding than ever before and are challenging traditional business models and also highlights adverse currency movements.

The company also says good progress has been made in reducing the Group’s sterling transaction exposure through its Brexit Currency Mitigation Programme.

This year, the company expects to deliver adjusted earnings per share growth of 6% to 10% on a constant currency basis.