Kerry Group reports that it has completed the purchase of Cargill’s global flavors business for approximately $230M. The deal gives the Irish ingredients and flavors company control of the former Cargill business, with estimated revenues of $200M annually.
Kerry Group, a leading food ingredients supplier and technology-based solutions provider, has reportedly acquired Cargill’s global flavors business. Cargill Flavor Systems has annual revenues of approximately $200M. The purchase strengthens Kerry’s capability to provide integrated customer solutions across all food and beverage end-use markets, says Kerry Group.
The company purchased Cargill Flavor Systems for $230M. Cargill Flavor Systems employs 700 people throughout its integrated flavor development and application centers in France, the U.K., South Africa, India, Malaysia, China, Puerto Rico, Mexico and Brazil and the United States. The purchase was completed on December 1, 2011.
Source: Kerry Group, www.foodnavigator.com
Kerry Group completes purchase of Cargill's global flavors business
December 12, 2011