Kerry to acquire Cargill’s flavours business

Irish food ingredients and flavours company Kerry Group has entered an agreement to acquire Cargill’s global flavours business in a deal valued at $230m.

According to Kerry, the acquisition of Cargill Flavor Systems will strengthen the company’s capability to provide integrated customer solutions across all food and beverage end-use markets and extend the Group’s market spread in emerging markets.

Cargill’s unit, which has a global customer base, provides flavour ingredients and flavour systems for beverage, dairy, sweet and savoury applications.

The business, with annual revenues of approximately $200m, employs 700 people through its integrated flavour development and application centres in France, UK, South Africa, India, Malaysia, China, US, Puerto-Rico, Mexico and Brazil.

Kerry Ingredients & Flavours develops, manufactures and delivers technology-based ingredients, flavours and integrated solutions for food, beverage and pharmaceutical markets.