KERRY, IRELAND – The Kerry Group has entered into exclusive discussion with Cargill to acquire Cargill’s flavor business.

“Kerry is a leading global food ingredients and flavors provider and a leader in development and delivery of consumer preferred taste solutions,” said Stan McCarthy, chief executive officer of the Kerry Group. “The acquisition of Cargill Flavor Systems would again advance Kerry’s capability to provide unrivalled innovative integrated customer solutions across all food and beverage end-use-markets and extend the Group’s market spread in emerging markets.”

Cargill confirmed it has entered into discussions with the Kerry Group and said the discussion process may take four to six weeks to complete. Cargill’s flavor business operates in 22 countries with production facilities in Europe, North America and Asia. The company employs 700.