Kerry Group PLC Kerry completes Sweet Ingredients Portfolio sale (3594U)
27 Mars 2023 - 5:30PM
UK Regulatory
TIDMKYGA
RNS Number : 3594U
Kerry Group PLC
27 March 2023
Date: 27 March 2023
LEI: 635400TLVVBNXLFHWC59
KERRY GROUP
Kerry completes sale of its Sweet Ingredients Portfolio
Kerry Group plc ("Kerry" or "Kerry Group"), the global taste
& nutrition company, today announces that it has completed the
sale of the trade and assets of its Sweet Ingredients Portfolio to
IRCA for a consideration of EUR500m(1) . The sale was first
announced on 11 January 2023 .
Commenting on the closure of the transaction, Edmond Scanlon,
Chief Executive Officer of Kerry Group said: "I would like to wish
our former colleagues every success as part of IRCA. This
represents another important strategic step in Kerry's evolution,
as we continue to enhance and refine our Taste & Nutrition
portfolio to areas where we can create the most value."
(1)Consideration of EUR500m comprises an initial cash
consideration of EUR375m plus a EUR125m interest bearing vendor
loan note (subject to routine closing adjustments).
ENDS
About Kerry
Kerry is a world leading provider of taste and nutrition
solutions for the food, beverage and pharmaceutical markets. We
innovate with our customers to create great tasting products, with
improved nutrition and functionality, while ensuring better impact
for the planet. Our leading consumer insights, RD&A team of
1,100+ food scientists and extensive global footprint enable us to
solve our customers' complex challenges with differentiated
solutions. At Kerry, we are driven to be our customers' most valued
partner, creating a world of sustainable nutrition. For more
information, visit www.kerry.com.
KERRY CONTACT INFORMATION
=============================================
Investor Relations
Marguerite Larkin , Chief Financial
Officer
+353 66 7182292 | investorrelations@kerry.ie
William Lynch , Head of Investor
Relations
+353 66 7182292 | investorrelations@kerry.ie
Media
Catherine Keogh , Chief Corporate
Affairs & Brand Officer
+353 45 930188 | corpaffairs@kerry.com
Website
www.kerry.com
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END
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