Food giant Kerry Group set to act on ‘strong’ Asian deal pipeline

Kerry Group has said it will make more acquisitions before the end of the year, with small bolt-on buys likely in the increasingly key Asia-Pacific region.

There had already been more than €80m in that region in purchases this year, but Kerry stressed yesterday it would also be eyeing purchases in the Americas and Europe. The group has an estimated spend capacity of €1bn for the next 18 months.

Incoming chief executive Edmond Scanlon said the group has a strong pipeline of acquisition targets in Asia, but they “will take time” to come to fruition, with Kerry’s immediate future in the region likely to be more of an “organic growth story”.