Kerry Group makes double acquisition

Ireland-based food ingredients multinational Kerry Group has acquired the companies Fleischmann’s Vinegar Company (USA) and AATCO Food Industries (Oman) in a deal worth €365 million.

The two companies generate combined annual revenues of more than €6.4 billion. Fleischmann’s Vinegar Company has facilities in New York, Illinois, Missouri, Alabama and California and produces a range of specialty ingredients such as balsamic vinegar, apple cider vinegar and wine vinegar, while AATCO Food Industries operates in Oman, Saudi Arabia and India and makes a range of culinary sauces for the foodservice sector.

Kerry Group is listed on the Irish and London Stock Exchanges and has annual sales of approximately €6.4 billion (2017). It currently employs 24,000 people and has more than 130 manufacturing facilities worldwide. Its products are sold in around 140 countries.

In September 2018 it opened its first facility in Russia for the production of ingredients for the meat processing and snacks market. When fully operational, the site will be capable of producing approximately 26,000 tonnes of finished product a year to meet local demand and for export to Belarus, Kazakhstan, Uzbekistan, Tajikistan and Azerbaijan.