Kerry Group, the global taste and nutrition company, has acquired a Colombian food technology company.
The Tralee-headquartered business is paying US$44 million for Proexcar S.A.S.
It may need to make an additional payment of up to US$18 million in 2025, based on achieving earn-out conditions.
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Located in Colombia with around 120 employees, Proexcar S.A.S has leading natural functional systems technologies, which can deliver clean label solutions into protein applications.
Kerry Group says the acquisition strengthens its offering and leadership position within the overall Latin American meat market.
It also says it’ll provide a platform for development within the ANDEAN region, which takes in Bolivia, Colombia, Ecuador, and Peru.
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