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Kerry Group Plc M&A Activity 2023
1957_rns_2023-03-27_e619ed10-bcb5-411c-a30e-ffa022515935.pdf
M&A Activity
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Date: 27 March 2023
LEI: 635400TLVVBNXLFHWC59
KERRY GROUP
Kerry completes sale of its Sweet Ingredients Portfolio
Kerry Group plc ("Kerry" or "Kerry Group"), the global taste & nutrition company, today announces that it has completed the sale of the trade and assets of its Sweet Ingredients Portfolio to IRCA for a consideration of €500m1 . The sale was first announced on 11 January 2023.
Commenting on the closure of the transaction, Edmond Scanlon, Chief Executive Officer of Kerry Group said: "I would like to wish our former colleagues every success as part of IRCA. This represents another important strategic step in Kerry's evolution, as we continue to enhance and refine our Taste & Nutrition portfolio to areas where we can create the most value."
¹Consideration of €500m comprises an initial cash consideration of €375m plus a €125m interest bearing vendor loan note (subject to routine closing adjustments).
ENDS
About Kerry
Kerry is a world leading provider of taste and nutrition solutions for the food, beverage and pharmaceutical markets. We innovate with our customers to create great tasting products, with improved nutrition and functionality, while ensuring better impact for the planet. Our leading consumer insights, RD&A team of 1,100+ food scientists and extensive global footprint enable us to solve our customers' complex challenges with differentiated solutions. At Kerry, we are driven to be our customers' most valued partner, creating a world of sustainable nutrition. For more information, visit www.kerry.com.
KERRY CONTACT INFORMATION
Investor Relations Marguerite Larkin, Chief Financial Officer +353 66 7182292 | [email protected]
William Lynch, Head of Investor Relations +353 66 7182292 | [email protected]
Media Catherine Keogh, Chief Corporate Affairs & Brand Officer +353 45 930188 | [email protected]
Website www.kerry.com