PHARMA ingredients may represent just 4% of Kerry Group’s business, but they can play a useful role in the company’s global expansion strategy, according to an equity report by Davy stockbrokers.

KERRY Group is on course to spend between €400 million and €500m on acquisitions this year, following yesterday’s announcement that it is to buy Cargill Flavor Systems for $230m (€170.1m).

KERRY GROUP saw pre-tax profits jump by 8%, year-on-year, in the first half of this year to €175 million, with group revenue rising by 8.4% to €2.6 billion.

KERRY Group has entered exclusive talks with US-based agri-food group Cargill over buying its global flavours business.