Kerry buys three firms for €645m

Kerry Group has boosted its core ingredients and flavours business and upped its presence in the growing nutritional solutions market, via the purchase of three US businesses for a combined $735m (€645m).

The Tralee-based food group yesterday announced the acquisitions of Red Arrow Products, Island Oasis, and Wellmune, with the total consideration being financed from Kerry’s existing credit lines.

While not household names, each company is a recognised leader in the ingredients sector, and enjoys significant international reach.