Kerry buys US food companies in $62m deals

Kerry Group PLC said it has bought US based Da Vinci Gourmet and Crystals International for $62m (€52.6m).

Da Vinci Gourmet is a manufacturer of branded flavoured syrups, confectionary sauces and tea concentrates - serving specialty coffee chains, specialty food and grocery stores and food service outlets in more than 40 countries.

Crystals International is a specialist manufacturer of natural fruit and vegetable flavours for beverage, confectionary, dairy and pharmaceutical applications.

The firm has been supplying the US military with instant juices for several decades with military contracts typically representing between 5% and 15% of the company's annual business, a company executive told a US business journal last year.