The Kerry Group has announced the acquisition of the French company Aromont and the proposed acquisition of Stearns & Lehman in the United States.
Kerry will pay about $26 million for the business of Stearns & Lehman, which has annual sales of $20 million, if the company’s shareholders agree to the deal.
Commenting on the proposed acquisition of Stearns & Lehman, Managing director of Kerry Group Mr Hugh Friel said the continued growth in international specialty coffee markets and the expansion of food services provide excellent opportunities for Stearns & Lehman beverage products and flavourings.
"With Kerry's focus on foodservice markets and its global presence, the addition of this specialist beverage flavouring technology represents an exciting new development for the group", he said.
In relation to Aromont, Mr Friel said the recent acquisition of Voyager Foods in the UK and the addition of Aromont would place the Kerry Group in a significant position to develop its position as leader in the culinary ingredients sector throughout Europe.