| Kerry Group plc | |
| Type: | Public limited company |
| Traded As: | ISEQ 20 component |
| Key People: | Tom Moran (Chairman) Edmond Scanlon (CEO) |
| Products: | Food ingredients and flavours |
| Revenue: | €8,020.3 million (2023[1] |
| Operating Income: | €866.0 million (2023) |
| Net Income: | €728.1 million (2023) |
| Assets: | €11,692.4 million (2023) |
| Equity: | €6,522.8 million (2023) |
| Num Employees: | 23,000 (2024)[2] |
| Foundation: | in Listowel, County Kerry, Ireland |
| Location: | Tralee, County Kerry |
| Homepage: | www.kerrygroup.com |
Kerry Group plc is a public food company headquartered in Ireland. It is quoted on the Dublin ISEQ and London stock exchanges.
Given the company's origins in the co-operative movement, farmer-suppliers of the company retain a significant interest in the company.
Kerry was founded in 1972 in Listowel, County Kerry as a private company (North Kerry Milk Products) with three shareholders – state-owned Dairy Disposal Company (42.5%), a federation of eight small farmer co-operatives in Kerry (42.5%) and Erie Casein Company Inc. from the US (15%).[3]
In 1986, a significant milestone in the formation of the public limited company involved the Group acquiring the undertaking, property and assets of Kerry Co-operative Creameries and as a consideration 90 million ordinary shares in Kerry Group plc being issued to the Co-op.[4] It floated on the Irish Stock Exchange at a price of 52p per share.[5]
Kerry Group has a long history of acquisitions. In 1982, the company acquired pork manufacturer Duffy Meats and Henry Denny & Sons.[6] In 1988, it acquired Beatreme Food Ingredients, a division of the Beatrice Corporation for $130m.[7] [8] In 2000, it acquired Shade Foods Inc, a US sweet ingredients provider for US$80 million,[9] Armor Foods, a savory flavorings company for US$35 million[10] and Solnuts, a provider of value-added soy-based nutritional ingredients.[11]
In March 2004, the company bought the Quest Food Ingredients Group, a food ingredients business, for US$440 million.[12] Then in August 2005, the company acquired Noon Products, a supplier of Indian and Thai ready meals, for £124m.[13]
In September 2012, the company acquired Cargill Flavor Systems, a manufacturer of food flavouring, for $230 million.[14]
In February 2015, the company acquired Rollover, a supplier of hot dogs.[15] Then in October 2015, the company acquired Red Arrow Products, Island Oasis and Wellmune, three businesses in the US taste and nutrition sector, for US$735 million.[16]
In June 2021, Pilgrim's Pride agreed to buy Kerry Group's consumer foods in the meat and meals business.[17] In June 2021, Kerry Group also agreed to acquire Niacet for the value of €853 million.[18]
In July 2021, the company acquired Biosearch Life, a biotechnology company focused on the pharmaceutical, nutraceutical and functional food sectors.[19]
In February 2022, Kerry Group announced two acquisitions: c-LEcta, a biotechnology company, and Enmex, a Mexican based enzyme manufacturer.[20]
In April 2022, Kerry Group acquired Natreon, Inc, a US based supplier of branded Ayurvedic botanical ingredients.[21]
In August 2022, Kerry Group acquired the B2B powdered cheese business and related assets of The Kraft Heinz Company for consideration of $107.5 million.[22]
In January 2023, IRCA, Advent International’s portfolio company, agreed to buy Kerry Group’s Sweet Ingredients Portfolio for €500 million.[23]
Headquartered in Tralee, County Kerry, Ireland, the Group employs over 23,000 people in its manufacturing, sales and technical centres worldwide.[24] Kerry's global Technology Centre is in Naas, County Kildare and employs 800 people.[25] Kerry supplies over 18,000 foods, food ingredients and flavour products to customers in more than 140 countries. Kerry is a member of the European Flavour Association.[26]
The Group operates across two business:
Brands include:[27]
In 2021, Kerry was on the list of Industry Outlook's Top 10 Food Additive Manufacturers,[29] in addition to being ranked second on the Top 20 Global Food Preservative Companies list by FoodTalks, a Chinese food media platform.[30]