Kerry intends to acquire Spanish biotechnology company Biosearch Life

Global taste and nutrition company Kerry has unveiled its intention to acquire Spanish company Biosearch Life.

Headquartered in Granada, Biosearch Life is a biotechnology company with a presence in the nutraceutical and functional food sectors.

With 150 employees, the Spanish firm is engaged in the production of a wide range of probiotics.

It is a provider of premium probiotics obtained from human breast milk (Hereditum brand), and scientifically backed botanical extracts (Exxentia) and natural omega-3 (Eupoly-3 brand).

Kerry said that it intends to acquire shares of Biosearch Life through a friendly public tender offer addressed to all the shareholders of the Spanish company and is subject to the prior approval of the Spanish National Securities Markets Commission.

Grupo Lactalis Iberia has undertaken to tender its complete stake, representing 29.5% of the share capital in Biosearch Life, into the offer.

In another development, Kerry has announced that it is conducting a strategic review of its dairy business in Ireland and the UK.

The review was announced by the company in conjunction with its annual results.

Kerry said that its dairy business has activities across both taste and nutrition and consumer food segments.

However, the company said that there is no guarantee that this review would lead to a transaction.

In October 2017, Kerry Group acquired US-based probiotics ingredient manufacturer Ganeden for an undisclosed amount.

Based in Cleveland, Ohio, US, Ganeden holds more than 135 patented technologies in the supplement, food, beverage and nutrition markets.