Kerry Group

Kerry Group plc is a public food company headquartered in Ireland. It is quoted on the Dublin ISEQ and London stock exchanges.

Kerry's Main Factory in Listowel
This article is about Kerry Group. For Kerry Properties, see Kerry Properties.

Kerry Group plc
TypePublic limited company
Euronext Dublin: KRZ
LSE: KYGA
ISEQ 20 component
ISINIE0004906560
Founded1972 (1972) in Listowel, Kerry, Ireland
HeadquartersTralee, Kerry, Ireland
Key people
Tom Moran (Chairman)
Edmond Scanlon (CEO)
ProductsFood ingredients and flavours
cheese and cheese snacks
ready meal
sausages
cooked meats
dairy spreads
water and juices
RevenueIncrease €8.8 billion (2022[1]
Increase €925.0 million (2022)[1]
Decrease €606.5 million (2022)[1]
Total assetsIncrease €12.28  billion (2022)[1]
Total equityIncrease €6.22 billion (2022)[1]
Owners
Number of employees
23,000+ (2022)[1]
Websitewww.kerrygroup.com

Given the company's origins in the co-operative movement, farmer-suppliers of the company retain a significant interest in the company.

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 in the meat and meals business.[9] In June 2021, Kerry Group also agreed to acquire Niacet for the value of €853 million.[10]

In July 2021, the company acquired Biosearch Life, a biotechnology company focused on the pharmaceutical, nutraceutical and functional food sectors.[11]

In February 2022, Kerry Group announced two acquisitions: c-LEcta, a biotechnology company, and Enmex, a Mexican based enzyme manufacturer.[12]

In April 2022, Kerry Group acquired Natreon, Inc, a 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 and employs 800 people.[16] Kerry supplies over 18,000 foods, food ingredients and flavour products to customers in more than 140 countries.[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]

Brands

Brands include:[18]

  • Big Train
  • Island Oasis
  • DaVinci Gourmet[19]
  • Golden Dipt[19]
  • Ravifruit[19]

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
  1. "Annual Report 2022" (PDF). Kerry Group. Retrieved 10 March 2023.
  2. "Kerry's cathedral of discovery". Irish Examiner. 12 October 2015. Retrieved 24 January 2016.
  3. 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.
  4. "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.
  5. "Kerry Group buys Noon Products". The Grocer. 9 August 2005. Retrieved 25 January 2016.
  6. "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.
  7. "Kerry Group gobbles up hot dog supplier Rollover". The Telegraph. 24 February 2015. Retrieved 25 January 2016.
  8. "Kerry Group Buys Three Food Companies for $735 Million". Powder and Bulk Solids. 19 October 2015. Retrieved 25 January 2016.
  9. "Kerry Group to sell consumer foods meat and meals business to Pilgrim's Pride". Reuters. 17 June 2021. Retrieved 17 June 2021.
  10. "Kerry Group acquires preservation group Niacet for €853m". The Irish Times. 21 June 2021. Retrieved 5 March 2023.
  11. "Kerry completes Biosearch Life acquisition". Dairy Reporter. 12 July 2021. Retrieved 5 March 2023.
  12. "Kerry acquires German and Mexican biotechnology companies". Dairy Reporter. 15 February 2022. Retrieved 5 March 2023.
  13. "Kerry Completes Acquisition of Science-Backed Branded Botanical Extract Company Natreon". Food Industry Executive. 8 April 2022. Retrieved 5 March 2023.
  14. "Kerry Group agrees €107.5m deal to acquire cheese business from Kraft Heinz". Food Industry Executive. 30 August 2022. Retrieved 5 March 2023.
  15. "Kerry sells sweet ingredients portfolio to Advent for 500 mln euros". Food Industry Executive. 11 January 2023. Retrieved 5 March 2023.
  16. "Kerry Group Officially Opens New Innovation Centre in Naas". Irish Farmers Journal. 7 October 2015. Retrieved 10 March 2023.
  17. "About EFFA". EFFA. Archived from the original on 8 April 2019. Retrieved 3 March 2018.
  18. "Brands". Kerry Group. Retrieved 10 March 2023.
  19. "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.
  20. "Top 10 Food Additive Manufacturers - 2021 | Industry Outlook". www.theindustryoutlook.com. Retrieved 12 January 2022.
  21. "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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