25th Oct 2018 10:00
LONDON (Alliance News) - Irish consumer foods company Kerry Group PLC said on Thursday it will acquires Fleischmann's Vinegar Co Inc and AATCO Food Industries LLC for a combined total of EUR365 million.
Fleischmann's Vinegar is a US-based all-natural producer of specialty ingredients, while AATCO Food Industries provides culinary sauces and condiments in the Middle East and Africa.
The acquisitions are expected to expand further Kerry's foundational technology portfolio and strengthen its foodservice position. Kerry will finance the acquisitions from existing lines of credit and expects to have them completed by before the 2018 year-end, subject to regulatory conditions.
Shares in Kerry Group were down 0.5% at EUR90.45 on Thursday.
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