Kerry Group
Kerry Group plc is a public food company headquartered in Ireland. It is quoted on the Dublin ISEQ and London stock exchanges.
| Type | Public limited company |
|---|---|
| Euronext Dublin: KRZ LSE: KYGA | |
| Founded | 1972 in Listowel, Kerry, Ireland |
| Headquarters | Tralee, Kerry, Ireland |
Key people | Tom Moran (Chairman) Edmond Scanlon (CEO) |
| Products | Food ingredients and flavours cheese and cheese snacks ready meal sausages cooked meats dairy spreads water and juices |
| Revenue | €8.8 billion (2022[1] |
| €925.0 million (2022)[1] | |
| €606.5 million (2022)[1] | |
| Total assets | €12.28 billion (2022)[1] |
| Total equity | €6.22 billion (2022)[1] |
| Owners |
|
Number of employees | 23,000+ (2022)[1] |
| Website | www.kerrygroup.com |
Given the company's origins in the co-operative movement, farmer-suppliers of the company retain a significant interest in the company. Kerry Co-operative Creameries remains the largest single shareholder in the company as of 2022.
History
Kerry was founded in 1972 in Listowel, County Kerry as a private company (North Kerry Milk Products) with three shareholders – state-owned Dairy Disposal Company (42.5%), a federation of eight small farmer co-operatives in Kerry (42.5%) and Erie Casein Company Inc. from the US (15%).[2]
In 1986, a significant milestone in the formation of the plc involved the Group acquiring the undertaking, property and assets of Kerry Co-operative Creameries and as a consideration 90 million ordinary shares in Kerry Group plc being issued to the Co-op.[3]
In March 2004, the company bought the Quest Food Ingredients Group, a food ingredients business, for US$440 million.[4] Then in August 2005, the company acquired Noon Products, a supplier of Indian and Thai ready meals, for £124m.[5]
In September 2012, the company acquired Cargill Flavor Systems, a manufacturer of food flavouring, for $230 million.[6]
In February 2015 the company acquired Rollover, a supplier of hot dogs.[7] Then in October 2015 the company acquired Red Arrow Products, Island Oasis and Wellmune, three businesses in the US taste and nutrition sector, for US$735 million.[8]
In June 2021 Pilgrim's Pride agreed to buy Kerry Group's consumer foods meat and meals business.[9] Also in June 2021, Kerry Group agreed to acquire Niacet, a global leader in preservation, for the value of €853 million.[10]
In July 2021, the company acquired Biosearch Life, a biotechnology company focused on providing innovative solutions for the pharmaceutical, nutraceutical and functional food sectors.[11]
In February 2022, Kerry Group announced two acquisitions: c-LEcta, a leading biotechnology innovation company, and Enmex, a Mexican based enzyme manufacturer.[12]
In April 2022, Kerry Group acquired Natreon, Inc, a leading US based supplier of branded Ayurvedic botanical ingredients.[13]
In August 2022, Kerry Group acquired the B2B powdered cheese business and related assets of The Kraft Heinz Company for consideration of $107.5 million.[14]
In January 2023, IRCA, Advent International’s portfolio company, agreed to buy Kerry Group’s Sweet Ingredients Portfolio for €500 million.[15]
Operations
Headquartered in Tralee, County Kerry, Ireland, the Group employs over 23,000 people in its manufacturing, sales and technical centres worldwide.[1] Kerry's global Technology Centre is in Naas, County Kildare at the groups' €100 million Global Technology and Innovation Centre which employs 800 people.[16] Kerry supplies over 18,000 foods, food ingredients and flavour products to customers in more than 140 countries worldwide.[2] Kerry is a member of the European Flavour Association.[17]
Business structure
The Group operates across two business:
- Taste & Nutrition
- Kerry Dairy Ireland[1]
Notable brands
Brands include:[18]
Rankings
In 2021, Kerry was on the list of Industry Outlook's Top 10 Food Additive Manufacturers,[20] in addition to being ranked second on the Top 20 Global Food Preservative Companies list by FoodTalks, a Chinese food media platform.[21]
See also
References
- ^ a b c d e f g h i j k l "Annual Report 2022" (PDF). Kerry Group. Retrieved 10 March 2023.
- ^ a b "Kerry's cathedral of discovery". Irish Examiner. 12 October 2015. Retrieved 24 January 2016.
- ^ "Research Handbook on Sustainable Co-operative Enterprise: Case Studies of Organisational Resilience in the Co-operative Business Model". Edward Elgar Publishing. 2014. p. 73.
- ^ . Irish Emigrant. 3 March 2004. Archived from the original on 1 February 2016. Retrieved 25 January 2016.
- ^ "Kerry Group buys Noon Products". The Grocer. 9 August 2005. Retrieved 25 January 2016.
- ^ . Natural Products Insider. 23 September 2012. Archived from the original on 7 October 2016. Retrieved 25 January 2016.
- ^ "Kerry Group gobbles up hot dog supplier Rollover". The Telegraph. 24 February 2015. Retrieved 25 January 2016.
- ^ "Kerry Group Buys Three Food Companies for $735 Million". Powder and Bulk Solids. 19 October 2015. Retrieved 25 January 2016.
- ^ "Kerry Group to sell consumer foods meat and meals business to Pilgrim's Pride". Reuters. 17 June 2021. Retrieved 17 June 2021.
- ^ "Kerry Group acquires preservation group Niacet for €853m". The Irish Times. 21 June 2021. Retrieved 5 March 2023.
- ^ "Kerry completes Biosearch Life acquisition". Dairy Reporter. 12 July 2021. Retrieved 5 March 2023.
- ^ "Kerry acquires German and Mexican biotechnology companies". Dairy Reporter. 15 February 2022. Retrieved 5 March 2023.
- ^ "Kerry Completes Acquisition of Science-Backed Branded Botanical Extract Company Natreon". Food Industry Executive. 8 April 2022. Retrieved 5 March 2023.
- ^ "Kerry Group agrees €107.5m deal to acquire cheese business from Kraft Heinz". Food Industry Executive. 30 August 2022. Retrieved 5 March 2023.
- ^ "Kerry sells sweet ingredients portfolio to Advent for 500 mln euros". Food Industry Executive. 11 January 2023. Retrieved 5 March 2023.
- ^ "Kerry Group Officially Opens New Innovation Centre in Naas". Irish Farmers Journal. 7 October 2015. Retrieved 10 March 2023.
- ^ "About EFFA". EFFA. Retrieved 3 March 2018.
- ^ "Brands". Kerry Group. Retrieved 10 March 2023.
- ^ a b c "Company of the Month June 2022: Kerry Group, "a reminder of the potential any business starting in North Kerry can have"". Business & Finance. 5 July 2022. Retrieved 10 March 2023.
- ^ "Top 10 Food Additive Manufacturers - 2021 | Industry Outlook". www.theindustryoutlook.com. Retrieved 12 January 2022.
- ^ "2021年FoodTalks全球食品防腐剂企业20强揭晓：LANXESS，Kerry、天津东大位列前三！". we.foodtalks.cn. Retrieved 12 January 2022.
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External links
- Official website