IRELAND, Tralee. Irish ingredients giant Kerry Group has entered into an agreement to buy the clean-label preservatives manufacturer Niacet from the private equity group SK Capital for $1 bn. The transaction is expected to close in the third quarter of this year.
Following the acquisition, Niacet will be integrated into Kerry’s global food protection and preservation platform, which the company is diligently expanding to focus more acutely on clean-label alternatives.
Kerry intends to double its reach by 2030 and have its products used by 2 billion people worldwide every day. To achieve this aim, the Irish company is steadily enhancing its capabilities in clean-label ingredients across a variety of categories. Now, its acquisition of Niacet helps further its objective in a big way.
Niacet will bring a substantial portfolio to Kerry with which to begin the expansion into natural preservative alternatives. In 2021, Kerry said it anticipates the company to have sales of approximately $220 mill. With this substantial slice of market share as the springboard from which it will begin, Kerry will undoubtedly have a head start when it comes to working toward dominance in the natural preservation ingredients space.