Kerry Group has entered into exclusive negotiations to sell the trade and assets of its Sweet Ingredients Portfolio to IRCA for €500 million.
IRCA is an international leader in chocolate, creams, and other high-quality semi-finished food ingredients.
Kerry Group says the potential sale is subject to relevant regulatory approvals and routine closing adjustments.
The Tralee headquartered company says employee consultation and information processes have commenced in relevant jurisdictions.
The Sweet Ingredients Portfolio covers four manufacturing facilities in the US - in Illinois, Kansas, Missouri, and California; and six facilities across the UK, the Netherlands, Germany and France.
CEO of Kerry Group, Edmond Scanlon says they are pleased to have entered exclusive negotiations with IRCA, who have a strong track record of developing their business within the category.
