ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

KRYAY Kerry Group Plc (PK)

105.184
1.52 (1.47%)
28 Feb 2025 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Kerry Group Plc (PK) USOTC:KRYAY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  1.52 1.47% 105.184 103.13 106.28 106.1844 104.53 104.53 6,038 22:00:00

Kerry Group to Acquire Niacet for $1.01 Billion

21/06/2021 7:52am

Dow Jones News


Kerry (PK) (USOTC:KRYAY)
Historical Stock Chart


From Mar 2020 to Mar 2025

Click Here for more Kerry (PK) Charts.

By Adria Calatayud

 

Kerry Group PLC said Monday that it has agreed to acquire to acquire Hare Topco Inc., trading as Niacet Corp., for 853 million euros ($1.01 billion), as it seeks to strengthen its food protection and preservation strategy.

The deal comes after the Irish nutrition company last week agreed to sell its consumer foods' meats and meals business in the U.K. and Ireland to Pilgrim's Pride Corp. for EUR819 million. Kerry said the addition of Niacet, which provides technologies for preservation and has strong positions in the bakery and pharma markets, will allow it to offer new products and technologies in a broader market.

Kerry said the acquisition will be accretive to sales growth and margins and is expected to benefit adjusted earnings from its first year. For 2021, Niacet is expect to generate earnings before interest, taxes, depreciation and amortization of around $66 million on revenue of around $220 million, Kerry said.

Niacet has customers in 75 countries and key manufacturing sites in Niagara Falls in the U.S. and in Tiel, the Netherlands, the buyer said.

The deal is expected to close by the end of the third quarter of 2021, subject to customary closing conditions and regulatory approvals, Kerry said.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

June 21, 2021 02:49 ET (06:49 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

1 Year Kerry (PK) Chart

1 Year Kerry (PK) Chart

1 Month Kerry (PK) Chart

1 Month Kerry (PK) Chart