Kerry, the global food and ingredients group, has bought Fleischmann’s Vinegar, an all-natural producer of speciality ingredients based in the US and AATCO Food Industries, a culinary sauce company based out of Oman.

These acquisitions further expand the group's technology portfolio, as well as strengthening its foodservice and developing markets positioning, in line with its strategic growth priorities.

Revenues

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Total consideration for the acquisitions is expected to be €365m. These acquisitions have annualised revenues of approximately €150m.

The group will finance the acquisitions from existing lines of credit and it is anticipated that the transactions will be completed prior to year-end, subject to routine regulatory and closing conditions.

Fleischmann's Vinegar supports Kerry's taste and clean label strategies. It is headquartered in California and has manufacturing facilities in Washington, New York, Maryland, Illinois, Missouri, Alabama and California.

Platform for business

AATCO Food Industries is headquartered in Muscat, Oman, with manufacturing facilities in Sohar, Oman, Jeddah, Saudi Arabia and Nashik, India. This business will provide a platform for business development in the Middle East and Africa.