Kerry, the world's leading taste and nutrition company, has today announced that it has completed the acquisition of Niacet. Kerry's food protection portfolio, resources and global scale combined with Niacet's capabilities, expertise and knowledge strengthens the company's global food protection and preservation platform. The acquisition was first announced on 21 June 2021 and has a value of €853m ($1,015m).
Niacet is a global leader in preservation and their business complements Kerry's existing extensive portfolio of food protection and preservation technologies and processes. It has a clear leadership position in bakery and has cost-effective low-sodium preservation systems for meat and plant-based food and its range includes both, conventional and clean label solutions. Globally, the consumer and market demand for technologies that preserve freshness, extend shelf life and reduce the global burden of food waste is accelerating. Kerry will build upon the commercial reach of Niacet's market-leading brands by adding the breadth and depth of its global network, innovation and application centres of excellence as well as its taste and nutrition expertise.
Through its portfolio of clean-label food protection and preservation technologies, Kerry has been keeping food safe for many decades. This acquisition strengthens the company's leadership position by the addition of complementary technologies while also accelerating its growth. The increased selection of preservation solutions and innovative food protection systems combined with the complete taste and nutrition offering will support Kerry and its broad global customer base to solve the world's most complex food protection challenges.
Edmond Scanlon, CEO of Kerry said: “We have a vision to create a world of sustainable nutrition which is about providing nutrition which has less impact on the earth's resources. Reducing food waste is a key component of this and one of the most effective ways to reduce food waste is through preservation where even one extra day of shelf life can have a hugely positive impact. We are excited to welcome the Niacet team to Kerry where the combination of our two businesses have created a global leadership position in the preservation sector.”
Kelly Brannen, CEO of Niacet said: “This is an exciting time for Niacet and it is a great opportunity for both companies. Working together, we will grow Niacet at a much faster rate and sell in new markets around the world. We are very pleased to become part of the Kerry organisation.”
Neil Cracknell, President & CEO of Kerry Applied Health & Nutrition, said: “We have long admired Niacet and its market leading technologies, commitment to innovation and quality of its people. Through this important acquisition, we are combining two great companies who share the same dedication to science and innovation, to develop innovative new technologies for food preservation, pharmaceutical applications and animal nutrition. We look forward to working with the Niacet leadership team and all of our Niacet colleagues to complete this integration successfully and swiftly.”
To mark the completion of the deal, events took place across a number of sites including Niacet's headquarters in Niagara Falls (USA) and their largest site in Tiel (Netherlands).
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