Kerry, Ireland
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Kerry, Ireland
2021 Sales: €7.4 billiona
The Kerry Group tackled the past year with strategic planning and a focus on sustainability. With strong growth across all regions, Kerry’s food waste solutions, among other things, was a driving force.
New investments in key manufacturing facilities across the globe also played a vital role in expansion for the company leading up to the celebration of the company’s 50th anniversary.
Acquisitions of Niacet, Biosearch Life and Enmex strengthened Kerry’s portfolio of clean-label preservation capabilities, proactive health and enzymes in food and beverages, respectively.
Kerry’s Beyond the Horizon sustainability strategy is supported with an increased emissions reduction target to align with a 1.5ºC temperature pathway, as well as an increased target for Scope 1 and 2 emissions reduction from 33% to 55% by 2030. In that respect, the group has already reached 1.1 billion consumers and reduced its operational carbon emissions by 39%, while moving to 100% renewable electricity for all manufacturing locations this year.
Kerry’s CEO, Edmond Scanlon alongside president and CEO of the Taste & Nutrition segment, Gerry Behan, discuss the company’s growth, supply chain and inflation pivots, portfolio additions and more in this year’s Leaders & Newsmakers issue.
aPer Kerry Group Annual Report 2021
Edmond Scanlon
CEO, Kerry Group
What was your company’s biggest business accomplishment in the last year?
In 2021, we delivered strong growth across all regions, with group revenue of e7.4 billion driven by volume growth of 8.0%. Growth was strong through the year across both the retail and foodservice channels, which was pleasing given the impact COVID-19 has had on our industry over the past couple of years. In 2022, we noted strong demand for Kerry’s food waste solutions as customers continue to evaluate the sustainability credentials of their products
During the year, we completed a comprehensive strategic planning refresh, which resulted in the presentation of our refreshed strategic priorities, key growth platforms, mid-term financial targets and sustainability commitments at our Capital Markets Day. The consistency of Kerry’s strategy has been an important contributor to the group’s success over many years. The strategic priorities of taste, nutrition and emerging markets comprise Kerry’s overarching strategic framework. Within this structure, we highlighted the four key growth platforms that will be important contributors to meeting our 4% to 6% revenue volume growth target over the next strategic cycle, namely authentic taste, plant-based, food waste and health and bio-pharma.
We have also made significant investments in key manufacturing facilities across the globe to support capacity for growth in key markets and further our sustainability commitments—making our products better for people and the planet.
This year marks Kerry’s 50th year in business. Our rapid evolution from a small dairy co-operative in Ireland in 1972 to a world leader in taste and nutrition is testament to how we continue to evolve and keep highly relevant on the global stage of food and beverage. I am proud of our 22,000 people across the world who are driving this growth through their passion and commitment.
For the full article, please check out the Perfumer & Flavorist+ July 2022 issue.
