Kerry Group plc trading as Kerry, has announced that it has reached agreement to acquire Hare Topco, Inc. trading as Niacet Corp from an affiliate of funds advised by SK Capital Partners, LP and other shareholders for €853m on a cash-free, debt-free basis, subject to customary closing adjustments.
Niacet is a global market leader in technologies for preservation. It has clear leadership positions in Bakery and Pharma, and cost-effective low-sodium preservation systems for Meat and plant based food. The business has customers in over 75 countries and key manufacturing sites in Niagara Falls (USA) and Tiel (The Netherlands)
Following the acquisition, Niacet will be integrated into Kerry's global food protection and preservation platform.
CEO of Kerry, Edmond Scanlon said the acquisition of Niacet's complementary product portfolio enhances its leadership position in the fast growing food protection and preservation market, and significantly advances its sustainable nutrition ambition.
