Kerry Group
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Company type | Public limited company |
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Euronext Dublin: KRZ
LSE: KYGA ISEQ 20 component | |
ISIN | IE0004906560 |
Founded | 1972Listowel, County Kerry, Ireland | in
Headquarters | Tralee, County Kerry |
Key people | Tom Moran (Chairman) Edmond Scanlon (CEO) |
Products | Food ingredients and flavours |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | 23,000 (2024)[2] |
Website | www.kerrygroup.com |
Kerry Group plc is a public food company headquartered in Ireland. It is quoted on the Dublin ISEQ and London stock exchanges.
![](http://upload.wikimedia.org/wikipedia/commons/thumb/2/23/Kerry_headquarters_Tralee_Irland%4020160601_01.jpg/220px-Kerry_headquarters_Tralee_Irland%4020160601_01.jpg)
Given the company's origins in the co-operative movement, farmer-suppliers of the company retain a significant interest in the company.
History
[edit]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%).[3]
In 1986, a significant milestone in the formation of the public limited company 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.[4] It floated on the Irish Stock Exchange at a price of 52p per share.[5]
Kerry Group has a long history of acquisitions. In 1982, the company acquired pork manufacturer Duffy Meats and Henry Denny & Sons.[6] In 1988, it acquired Beatreme Food Ingredients, a division of the Beatrice Corporation for $130m.[7][8] In 2000, it acquired Shade Foods Inc, a US sweet ingredients provider for US$80 million,[9] Armor Foods, a savory flavorings company for US$35 million[10] and Solnuts, a provider of value-added soy-based nutritional ingredients.[11]
In March 2004, the company bought the Quest Food Ingredients Group, a food ingredients business, for US$440 million.[12] Then in August 2005, the company acquired Noon Products, a supplier of Indian and Thai ready meals, for £124m.[13]
In September 2012, the company acquired Cargill Flavor Systems, a manufacturer of food flavouring, for $230 million.[14]
In February 2015, the company acquired Rollover, a supplier of hot dogs.[15] 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.[16]
In 2021, Kerry was on the list of Industry Outlook's Top 10 Food Additive Manufacturers,[17] in addition to being ranked second on the Top 20 Global Food Preservative Companies list by FoodTalks, a Chinese food media platform.[18]
In June 2021, Pilgrim's Pride agreed to buy Kerry Group's consumer foods in the meat and meals business.[19] In June 2021, Kerry Group also agreed to acquire Niacet for the value of €853 million.[20]
In July 2021, the company acquired Biosearch Life, a biotechnology company focused on the pharmaceutical, nutraceutical and functional food sectors.[21]
In February 2022, Kerry Group announced two acquisitions: c-LEcta, a biotechnology company, and Enmex, a Mexican based enzyme manufacturer.[22]
In April 2022, Kerry Group acquired Natreon, Inc, a US based supplier of branded Ayurvedic botanical ingredients.[23]
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.[24]
In January 2023, IRCA, Advent International’s portfolio company, agreed to buy Kerry Group’s Sweet Ingredients Portfolio for €500 million.[25]
In December 2023, the company acquired the lactase enzyme business of Danish companies Chr, Hansen and Novozymes for €150 million.[26][27]
Operations
[edit]Headquartered in Tralee, County Kerry, Ireland, the Group employs over 23,000 people in its manufacturing, sales and technical centres worldwide.[28] Kerry's global Technology Centre is in Naas, County Kildare and employs 800 people.[29] Kerry supplies over 18,000 foods, food ingredients and flavour products to customers in more than 140 countries.[3] Kerry is a member of the European Flavour Association.[30]
Business structure
[edit]The Group operates across two business:
- Taste & Nutrition
- Kerry Dairy Ireland[28]
Brands
[edit]Brands include:[31]
See also
[edit]References
[edit]- ^ a b c d e "Annual Results 2023" (PDF). Kerry Group. Retrieved 11 March 2024.
- ^ "About us". Kerry Group. Retrieved 11 March 2024.
- ^ 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. ISBN 9781783472024.
- ^ "Kerry's qualities make it a good buy". The Irish Times. Retrieved 13 January 2024.
- ^ Hubert, S. Keyes and T. (18 June 2021). "Kerry had a profitable meat business with strong brands – and it made sense to sell it". The Currency. Retrieved 13 January 2024.
- ^ "Kerry Group Corporate History" (PDF). Kerry Group. Retrieved 3 May 2024.
- ^ Cahill, Edward (1997). Corporate financial crisis in Ireland. Dublin: Dublin : Gill & Macmillan. p. 58. ISBN 978-0-7171-2024-6. Retrieved 3 May 2024.
- ^ "Kerry in $80m buy from Swiss". The Irish Times. Retrieved 13 January 2024.
- ^ foodnavigator.com. "Kerry buys Armour Food". foodnavigator.com. Retrieved 13 January 2024.
- ^ "In The Know: Whopper Deal | Prepared Foods". www.preparedfoods.com. Retrieved 13 January 2024.
- ^ "Purchase-hungry Kerry Group buys Quest for $440m". 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.
- ^ "Kerry buys Cargill Flavor System for $230 million". 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.
- ^ "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.
- ^ "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 announces €150m deal to acquire Danish enzymes business". www.businesspost.ie. Retrieved 28 August 2024.
- ^ "Kerry Group to acquire lactase enzyme business of merging Danish companies for €150m". The Irish Times. Retrieved 28 August 2024.
- ^ a b "Annual Report 2022" (PDF). Kerry Group. Retrieved 10 March 2023.
- ^ "Kerry Group Officially Opens New Innovation Centre in Naas". Irish Farmers Journal. 7 October 2015. Retrieved 10 March 2023.
- ^ "About EFFA". EFFA. Archived from the original on 8 April 2019. 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.
- Kerry Group
- Companies listed on the London Stock Exchange
- Companies listed on Euronext Dublin
- Demutualized organizations
- Flavor companies
- Food and drink companies established in 1972
- Food companies of the Republic of Ireland
- Former cooperatives
- Irish companies established in 1972
- Organisations based in Tralee
- Companies in the ISEQ 20
- Companies in the S&P Europe 350 Dividend Aristocrats