New Acquisitions Strengthen Kerry Group’s Leadership in Developing Markets and Clean Label Technologies
Friday 26 October, 2018
Kerry Group has announced that it has reached agreement to acquire Fleischmann’s Vinegar Company Inc and AATCO Food Industries LLC.
Kerry Group has announced that it has reached agreement to acquire Fleischmann’s Vinegar Company Inc and AATCO Food Industries LLC, consolidating the company’s position as market leader in taste and nutrition in the MENAT region, and increasing its clean label technology portfolio in North America. It is expected that the transactions will be completed prior to year-end.
The €365 million-euro investment signals Kerry’s commitment to build its clean label technology portfolio and to further localise its presence in the developing MENAT region, strengthening the Group’s foodservice capabilities. The combined investment will see Kerry increase its 25,000-strong workforce by over 500 employees, with a blend of regional and international experience, and increase the company’s footprint and geographical presence, with state-of-the-art regional manufacturing facilities.
Fleischmann's Vinegar Company, Inc is a USDA certified all-natural producer of specialty ingredients that will further support Kerry's taste and clean label strategies across a number of End Use Markets. It is headquartered in California and has manufacturing facilities in Washington, New York, Maryland, Illinois, Missouri, Alabama and California.
“The acquisition of Fleischmann's Vinegar Company provides Kerry with significant opportunities for differentiated product development. It supports our strategic approach to continued investment in expanding our clean label portfolio, creating from food for food solutions that are fully aligned with the needs of today’s consumer. Over the past one hundred and fifty years, Fleischmann’s has built a strong and enviable reputation for product quality and excellence. We look forward to building on this reputation further,” commented Neil Cracknell, President, Functional Ingredients & Actives at Kerry.
AATCO Food Industries LLC is a leading provider of culinary sauces to the foodservice channel, with a comprehensive customer portfolio across leading global and regional FMCG and foodservice operators. Headquartered in Muscat, Oman with best-in-class R&D capabilities and manufacturing facilities in Oman, Saudi Arabia and India, AATCO’s extensive distribution network will provide a platform for business development in the Middle East and Africa, supporting Kerry’s strategic in-country approach to delivering taste and nutrition solutions in response to changing local consumer preferences.
“The acquisition of AATCO marks a significant milestone for Kerry, enabling the Group to deliver local, better tasting, more nutritious food experiences across this region, in line with customer and consumer needs,” commented John Savage, President & CEO Kerry APMEA.