Kerry acquires SuCrest, gains sweet expertise
The takeover of the German ingredients business for an undisclosed sum was announced this morning.
SuCrest, with product lines targeted at the confectionery, bakery, ice-cream, cereal and snack sectors, has production facilities at Hochheim in Germany and Vitebsk in Belarus, and a sales office in Moscow.
It had reported annual revenue of €50n in the financial year ended 31 December 2010.
Speaking to FoodNavigator.com, Frank Hayes, director of corporate affairs at Kerry said that the acquisition expands the group’s capacity in terms of sweet coatings, compounds and caramel technology.
It will also provide Kerry with new customers and strengthen the global group’s foothold in the EMEA (Europe, Middle East and Africa) region, he continued. "SuCrest has a strong presence in Germany and the Northern European markets in particular," reports Hayes.
He added that integration of the supplier into the wider group is "already underway".
In terms of Kerry’s potential acquisition of Cargill Flavor Systems, Hayes commented that the consultation process with employee representatives “progressed satisfactorily” and discussions with the US company on the deal are into the next phase.
The Irish ingredients group confirmed to this publication in July that it was in “exclusive talks” with Cargill in relation to the sale.
Kerry intends to pursue additional acquisitions before the end of the year, said Hayes, with it looking to grow its business organically and through takeovers. He added that the group’s strong balance sheet means it is in a good position to acquire other flavours and food ingredients businesses.
November 2010 saw Kerry acquire California-based Agilex Flavors, which develops sweet, fruit and brown flavours for nutritional, beverage, bakery and confectionery.