Ireland’s Kerry Group has announced its acquisition of the German sweet ingredients and flavours producer SuCrest.
The Co. Kerry-based company said the move would significantly expand its sweet ingredients and flavours business in the EMEA region.
SuCrest has production and product development facilities located in Hochheim, Germany and Vitebsk, Belarus, as well as a sales representative office in Moscow. The company is a leading provider of sweet ingredients to the bakery, ice cream, confectionery, cereal and snack sectors in European markets.
Kerry Ingredients & Flavours develops, manufactures and delivers technology-based ingredients, flavours and integrated solutions for the food, beverage and pharmaceutical markets.
In a statement, Kerry said: “Combined with Kerry’s existing sweet systems and flavours portfolio, SuCrest will broaden Kerry’s technology, customer and geographic base in EMEA markets and will further advance the Group’s leadership in providing integrated customer solutions and applications expertise to processors serving sweet technology end-use-markets.”
SuCrest reported annual revenues of €50 million in the financial year ending 31 December 2010.
Serving customers in 140 countries, Kerry employs approximately 23,000 people across its manufacturing and product development facilities in 23 countries and its network of international offices.
The transaction, which is subject to regulatory approval, is expected to be completed by the end of this year.
