Kerry receives clearance to acquire Cargill Flavor Systems

Kerry has received clearance from the Irish Competition Authority for the planned acquisition of Cargill Flavor Systems.

The authority said that the acquisition will not result in a substantial lessening of competition in any markets for goods or services inIreland.

In July, Cargill signed a definitive agreement to sell its flavours business to Kerry, with the exception of the business that produces fruit juice compounds, for a consideration of $230m, subject to closing adjustments.

Cargill’s flavours business, which has annual revenues of approximately $200m, has operations in the US, Brazil, Europe and Asia, and is involved in the manufacture and sale of flavours, aroma chemicals and fruit juice compounds, and related research and development.

Kerry, based in Ireland, is involved in the manufacture and sale of food ingredients, flavours and flavour ingredients.