Kerry, the global ingredients & flavors and consumer foods group, announced that it has entered into an agreement to acquire SuCrest GmbH ("SuCrest"), significantly expanding the Group's sweet ingredients & flavors business in the EMEA region.
SuCrest, with production and product development facilities located in Hochheim, Germany and Vitebsk, Belarus and a SuCrest sales representative office in Moscow, is a leading provider of sweet ingredients to the bakery, ice-cream, confectionery, cereal and snack sectors in European markets.
Combined with Kerry's existing sweet systems & flavors portfolio, SuCrest will broaden Kerry's technology, customer and geographic base in EMEA markets and will further advance the Group's leadership in providing 'integrated customer solutions' and applications expertise to processors serving sweet technology end-use-markets.
The business being acquired reported annual revenue of €50 million in the financial year ended 31 December 2010. The transaction which is subject to regulatory approval is expected to be completed by year-end.
Kerry Group is the global leader in food ingredients & flavors serving the food and beverage industries and a leading consumer foods processing and marketing organization in selected EU markets. Serving a wide customer base in 140 countries, Kerry employs some 23,000 people across the Group's manufacturing and product development facilities in 23 countries and its network of international representative offices. Kerry Ingredients & Flavors develops, manufactures and delivers technology-based ingredients, flavors and integrated solutions for food, beverage and pharmaceutical markets.