LONDON — Kerry Group P.L.C. on Dec. 14 said it has reached agreement to acquire two U.S.-based food seasoning companies for €325 million ($367 million). Ariake USA, the North American business of Ariake Japan Co., produces clean label savory taste solutions derived from poultry, pork and vegetables at its facility in Harrisonburg, Va. Southeastern Mills North American coatings and seasonings business (SEM) manufactures coatings and seasonings at its manufacturing base in Rome, Ga.
“These acquisitions further enhance the Group’s foundational technology portfolio, as well as strengthening its food service positioning in line with strategic growth priorities,” Kerry said.
Kerry said Ariake USA and SEM have annualized pro‐forma third‐party revenues of approximately €125 million. Kerry said it plans to finance both acquisitions from existing lines of credit.