The Kerry Group announced this week that it has agreed to buy the “business to business” powdered cheese business and related assets of Kraft Heinz for $107.5m (€107.6m).
It currently employs 62 people in its manufacturing facility in the US, located in Albany, Minnesota. Kerry expects the deal to conclude in the coming months and says the acquisition will enhance Kerry’s “scale, manufacturing capability and customer base in the important snacking category.”
A year ago, Kerry sold its meats and meals division to the JBS-controlled Pilgrim’s Pride company, which also owns Moy Park, for €819m. This division included well known consumer brands like Denny’s, Galtee and Coleraine cheddar.
Kerry celebrated 50 years in business in June this year, having commenced as a dairy co-op, and now has developed into a global ingredients business as well as retaining its original dairy business, even though it has divested from meats and meals.