Kerry Group PLC - Tralee, Ireland-based nutrition products - Completes the EUR853 million purchase of Niacet Corp, a US- and Netherlands-based technology firm focused on meat and plant-based food preservation. Niacet now will be integrated into Kerry's food protection and preservation platform. Niacet has manufacturing sites in Niagara Falls, New York and Tiel, Netherlands. In 2021, it is expected to have pro forma annualised revenue of around USD220 million and earnings before interest, tax, depreciation and amortisation of USD66 million. Kerry bought Hare Topco Inc, which trades as Niacet, from SK Capital Partners LP. The deal was first announced back in June.
Current stock price: EUR121.95
Year-to-date change: up 3.0%
By Tom Waite; thomaslwaite@alliancenews.com
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