Kerry Group said it has completed the acquisition of Niacet, a global market leader in preservation technologies.
First announced on 21 June 2021, the €853 million (£728m) deal is expected to strength Kerry’s food protection and preservation platform, with Niacet complementing its existing extensive portfolio of food protection and preservation technologies and processes.
“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,” Edmond Scanlon, Kerry chief executive, said.
“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.”
Headquartered in Niagara Falls (USA), Niacet 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.
Kerry said it will build upon the commercial reach of Niacet’s 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.
Kelly Brannen, Niacet chief executive, 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.”