Kerry Group goes on a $735m buying spree to boost its taste and nutrition portfolio
In the financial year 2014, the businesses being acquired had annual revenues of $301m and earnings before interest, taxation, depreciation and amortization (EBITDA) of $59m.
Wisconsin-based Red Arrow Products is a leading supplier of natural smoke flavors and natural savory grill flavors serving meat, culinary and food industry markets worldwide.
Massachusetts-based Island Oasis makes all-natural premium cocktail mixes and customized beverage solutions serving 'on-premise', restaurant, leisure and hospitality segments of the U.S. market.
Biothera Inc.'s Wellmune business produces and markets the Wellmune beta-glucan ingredient, which is claimed to strengthen the immune system. Derived from the cell wall of a proprietary strain of baker’s yeast, Wellmune WGP ‘primes’ the innate immune system - the body’s first line of defense against invasion by bacteria and viruses – and can withstand wide pH ranges, high temperatures and harsh processing conditions.
Kerry Group CEO Stan McCarthy said the acquisitions “bring a number of important innovative technology platforms to Kerry”.
