Kerry Group announced a further expansion of its global flavours business today with the purchase of four firms for euro170 million.
The acquisition of New Jersey-based Manheimer Inc, Flavurence in Los Angeles, Laboratorios Krauss in Mexico and Fructamine in Italy represented a major step forward for Kerry's technical base and regional development, it said in a statement.
The purchases follow a $440 million deal in March to buy the global food ingredients business of Britain's ICI.
Kerry's chief executive Mr Hugh Friel noted demand for more varied and complex flavours was growing in line with increasing consumption of convenience foods.
The acquired businesses had annual revenues of $110 million last year, with pre tax earnings of $15 million.
