Kerry completes acquisition of Niacet
Kerry Group plc (“Kerry”), the global taste & nutrition company, announces that it has completed the acquisition of Hare Topco, Inc. trading as Niacet Corp. (“Niacet”) from an affiliate of funds advised by SK Capital Partners, LP and other shareholders for €853m ($1,015m¹) on a cash-free, debt-free basis.
Niacet will now be integrated as part of Kerry’s global food protection and preservation platform. About Niacet Niacet is a global market leader in technologies for preservation. It has clear leadership positions in Bakery and Pharma, and cost-effective low-sodium preservation systems for Meat and plant based food across both conventional and clean label solutions.
Niacet is differentiated by its proprietary drying and granulation process technologies in its key market categories of Bakery, Meat and Pharma. The business has customers in over 75 countries and key manufacturing sites in Niagara Falls (USA) and Tiel (Netherlands).
About Kerry Group Kerry is the world’s leading taste and nutrition partner for the food, beverage and pharmaceutical industries. 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, global RD&A team of 1,000+ food scientists and local manufacturing footprint in 31 countries enable us to co-create with our customers across over 150 countries. At Kerry, we are driven to be our customers’ most valued partner, creating a world of sustainable nutrition, and will reach over 2 billion consumers with sustainable nutrition solutions by 2030. For more information, visit www.kerrygroup.com. ¹The final cash consideration is subject to customary completion adjustments and based on an exchange rate of $1.19: €1.
