Kerry Acquires Two American Companies for EUR325m

Ireland-headquartered Kerry has reached an agreement to buy Ariake USA, the North American business of Ariake Japan Co, and Southeastern Mills’ North American coatings and seasonings business.

The two US businesses will be acquired for a total of EUR325m, as it aims to strengthen its foodservice positioning.

Southeastern Mills’ North American coatings and seasonings business manufactures coatings and seasonings at its base in Rome, Georgia.

Ariake USA produces clean-label, savory taste solutions derived from poultry, pork and vegetables at its facility in Harrisonburg, Virginia.

The acquisitions have annualized pro-forma third-party revenues of approximately EUR125m.

In October, Kerry secured deals to buy Fleischmann’s Vinegar Company and AATCO Food Industries in a deal worth approximately EUR365m.

California-based Fleischmann’s Vinegar Company produces ingredients such as balsamic vinegar, apple cider vinegar and wine vinegar, while Oman-based AATCO Food Industries makes a range of culinary sauces for customers in the foodservice sector.

Last week, Kerry signed a license agreement with Renaissance BioScience Corp to supply Renaissance’s Acryleast, a non-GMO acrylamide-reducing yeast enzyme, to food and beverage manufacturers as of 2019.