Kerry Group has confirmed that it is in exclusive talks to purchase Cargill’s flavours business.
According to FoodNavigator, the Tralee, Ireland-based ingredient company is confident that a deal can be reached.
Cargill Flavor Systems, part of U.S. food giant Cargill, Inc., is one of the industry’s largest flavour businesses, providing ingredients for the beverage, dairy and confectionery sectors worldwide. Its acquisition would allow Kerry to expand its reach in the beverage sector, and in emerging markets in India, Asia and South America.
“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,” says Stan McCarthy, chief executive for Kerry Group.
The deal is part of Kerry’s ongoing strategy to grow through the acquisition of small and medium-size flavours and ingredients businesses.