KERRY Group has spent 67 million dollars on the acquisition of US-based food ingredients businesses, Guernsey Bel and Pacific Seasonings.
These two companies mark the third major acquisitions by Kerry in recent months and bring the company outlay to 135 million dollars since the end of 2002.
Guernsey Bel is a leading manufacturer of value added ingredients and inclusions technology in the sweet products sector, including ice-cream and breakfast cereal.
Kerry Group managing director, Hugh Friel, has welcomed the acquisition of the company which operates from two modern manufacturing facilities located in Chicago and California.
"The acquisition of Guernsey Bel further extends our technological and customer base in this dynamic sector," he said.
"It significantly expands our market presence through the provision of indulgence and texture components in particular for frozen desert and premium ice-cream applications," Mr Friel remarked.
Pacific Seasonings manufactures seasonings and spices for the meat, prepared foods and snack food industries from two plants in Seattle and Detroit.
The company services food processors and food service providers and has developed a strong market presence through national restaurant chains in the US.
"The business will assist the further development of Kerry s seasoning business in North America and, particularly, through its West Coast location it will provide a major boost to Kerry s business in that region of the US market," Mr Friel said.
"In addition, the Seattle based operation is
organic certified which is ideally positioned for growth in the world s largest market for organic products," he added. The other major purchase in 2003 was that of SunPure the US-based manufacturer of natural citrus flavours and ingredients for $68 million dollars.
