Kerry Group PLC - Tralee, Ireland-based nutrition products - Reaches agreement to increase its joint venture stake in Proparent BV. Proparent is the 100% owner of Ojah BV, manufacture of texturised plant-based proteins. Kerry will increase its holding to 75% from the 55% stake it acquired in 2018 for an incremental consideration of EUR20 million.
Kerry Chief Executive Thomas Ahlinder said: "The partnership with Ojah has delivered excellent growth thanks to its high-quality offering. Kerry has unique expertise in addressing the multitude of complexities in delivering taste, nutrition, and functionality combined with sustainable plant protein substrates, thereby supporting our customers in providing differentiated solutions that address the needs of a dynamic consumer base".
Current stock price: EUR90.96
12-month change: down 22%
By Chris Dorrell; chrisdorrell@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.