Kerry Group completes acquisition of Niacet for €853m

Kerry Group has completed the acquisition of preservatives-maker Niacet for €853 million.

The company said the acquisition, which was first announced in June, strengthens its position in the market with the addition of “complementary technologies” while also accelerating its growth.

Kerry Group chief executive Edmond Scanlon said: "We have a vision to create a world of sustainable nutrition which is about providing nutrition which has less impact on the earth's resources.

“Reducing food waste is a key component of this, and one of the most effective ways to reduce food waste is through preservation where even one extra day of shelf life can have a hugely positive impact.

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“We are excited to welcome the Niacet team to Kerry, where the combination of our two businesses have created a global leadership position in the preservation sector.”

Kelly Brannen, CEO of Niacet, said the deal would help the company to grow “at a much faster rate and sell in new markets around the world”.