Kildare based company announces sensational €642 million acquisition of three US companies
15 Oct 2015
Earlier this month Kerry Group officially opened its 28-acre site in Naas, and they are evidently not resting on their laurels as today they announced that they have purchased three US companies for a combined total of $735 million(€642 million). The companies acquired are Red Arrow Products, Island Oasis and Biothera's Wellmune business. All three companies are in the nutrition solutions area and they will add around $300 million a year to the revenues of Kerry Group. The acquisitions will be financed from Kerry Group's existing line of credit so they will not have to increase their debt. Red Arrow is a supplier of natural smoke flavours and savoury grill flavours serving the food industry worldwide. Island Oasis is a provider of cocktail mixes and customised beverages in the US market. Wellmune business produces and markets branded natural food, beverage and supplement ingredients. "The acquisitions of Red Arrow, Island Oasis and Wellmune, as well as significantly expanding our taste and nutritional solutions portfolio, bring a number of important innovative technology platforms to Kerry," Stan McCarthy, Kerry Group's Chief Executive said.
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