Kerry Group PLC Kerry Increases its Stake in Proparent B.V. (0863C)

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RNS Number : 0863C

Kerry Group PLC

07 October 2022

7 October 2022

LEI: 635400TLVVBNXLFHWC59

KERRY GROUP

Kerry Increases its Stake in Proparent B.V. (Owner of Ojah B.V.)

Kerry Group plc ("Kerry"), the global taste & nutrition company, today announces that it has reached agreement to increase its joint venture stake in Proparent B.V. ("Proparent"), which is the 100% owner of Ojah B.V. ("Ojah") - the Dutch manufacturer of texturised plant-based proteins. Having initially purchased a 55% stake in 2018, Kerry will increase its holding to 75% for an incremental consideration of EUR20m in line with terms agreed at the time of the initial investment. Thomas Ahlinder, President & CEO Kerry Europe commented "The partnership with Ojah has delivered excellent growth thanks to its high-quality offering. Kerry has unique expertise in addressing the multitude of complexities in delivering taste, nutrition, and functionality combined with sustainable plant protein substrates, thereby supporting our customers in providing differentiated solutions that address the needs of a dynamic consumer base".

Acquisitions are an important part of Kerry's strategy. In order to give further insight and context for its acquisitions, Kerry is providing additional information in relation to the acquisitions that it completes including, stating for each acquisition whether equity or assets were acquired and the strategic rationale for the acquisition. Included also is the percentage of voting equity acquired in the case of an equity acquisition, and the business unit/line acquired in the case of an asset acquisition. A table setting out this information in relation to the acquisitions made by Kerry in the period 2011 to 2022 year to date is available on Kerry's website under the financial highlights section on kerry.com/investors.

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   CONTACT INFORMATION 
  ============================================= 
 
   Investor Relations 
   Marguerite Larkin , Chief Financial 
    Officer 
   [phone] | [e-mail] 
 
   William Lynch , Head of Investor 
    Relations 
   [phone] | [e-mail] 
 
   Media 
   Catherine Keogh , Chief Corporate 
    Affairs & Brand Officer 
   [phone] | [e-mail] 
 
   Website 
   www.kerry.com 
 
 

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October 07, 2022 02:00 ET (06:00 GMT)