Kerry has announced the acquisition of Niacet. With a value of $1,015 million, the acquisition will strengthen Kerry's global food protection and preservation platform.
Niacet’s preservation expertise complements Kerry’s portfolio of food protection and preservation technologies and processes. It has a clear leadership position in bakery and has cost-effective, low-sodium preservation systems for meat and plant-based food, with a range that includes both conventional and clean label solutions. Kerry will build upon the commercial reach of Niacet’s brands by adding the breadth and depth of its global network, innovation and application centers, as well as its taste and nutrition expertise.
Edmond Scanlon, CEO of Kerry, said, “We have the vision to create a world of sustainable nutrition, which is about providing nutrition which has less impact on the earth’s resources. Reducing food waste is a key component of this, and one of the most effective ways to reduce food waste is through preservation where even one extra day of shelf life can have a hugely positive impact. We are excited to welcome the Niacet team to Kerry, where the combination of our two businesses has created a global leadership position in the preservation sector.”
Kelly Brannen, CEO of Niacet, said, “This is an exciting time for Niacet and it is a great opportunity for both companies. Working together, we will grow Niacet at a much faster rate and sell in new markets around the world. We are very pleased to become part of the Kerry organization.”
Neil Cracknell, president and CEO of Kerry Applied Health & Nutrition, said, “We have long admired Niacet and its market-leading technologies, commitment to innovation and quality of its people. Through this important acquisition, we are combining two great companies who share the same dedication to science and innovation, to develop innovative new technologies for food preservation, pharmaceutical applications and animal nutrition. We look forward to working with the Niacet leadership team and all of our Niacet colleagues to complete this integration successfully and swiftly.”