Kerry to buy Cargill flavor business
KERRY, IRELAND — The Kerry Group on Sept. 22 said it had entered an agreement to acquire Cargill Flavor Systems for a consideration of $230 million subject to closing adjustments. Cargill Flavor Systems, a global business, offers flavor ingredients and flavor systems for beverage, dairy, sweet and savory applications and has annual revenues of about $200 million.
Cargill Flavor Systems employs 700 people through its integrated flavor development and application centers in the United States, France, the United Kingdom, South Africa, India, Malaysia, China, Puerto Rice, Mexico and Brazil. The company has a network of sales representatives in 12 other countries.
Kerry employs 23,000 people across manufacturing and development facilities in 23 countries and its network of international representative offices.