IRELAND – Kerry, a leading ingredients supplier in the food industry, has announced the acquisition of DirectSens’ LactoSens technology.
This is a tool that enables swift, precise, and cost-effective lactose detection for the dairy industry.
The purchase is set to expand Kerry’s offerings in lactase enzyme solutions, providing an integrated suite for food manufacturers by aligning LactoSens with Kerry’s existing ingredient portfolio.
Widely adopted across the food and beverage manufacturing sectors, LactoSens allows producers to meet regulatory requirements while maintaining process efficiency.
Its real-time analysis capabilities have made it a preferred choice for manufacturers needing to monitor lactose content accurately.
In its third-quarter financial update for 2024, Kerry described the acquisition as modest but emphasized that it strengthens the company’s position in lactose-free dairy solutions.
Ronan Moloney, Vice President of Enzymes at Kerry Group, highlighted the strategic value of incorporating LactoSens into Kerry’s broader product line for food and beverage applications.
Christoph Sygmund, CEO of DirectSens, also commented on the deal, emphasizing the high standards of DirectSens’ biosensor technology.
The company will remain the contract manufacturer for LactoSens, ensuring its continued production while pursuing additional product development.
DirectSens aims to release new biosensor solutions, including OatSens, LactaZyme, and XPressGT, alongside expanding partnerships.
DirectSens COO Roman Kittl attributed the company’s growth to support from its funding partners, stating that the acquisition reflects the success of Austria’s innovation ecosystem.
Meanwhile, Kerry has been active in shareholder engagement through its ongoing US$324 million share buyback program.
The company recently purchased 25,000 of its A ordinary shares on Euronext Dublin, with plans to cancel them as part of its strategy to enhance shareholder returns.
This buyback program, launched earlier this year, is set to run until December 19, 2024, aligning with Kerry’s efforts to boost investor confidence.
Following this latest share acquisition, Kerry Group’s total outstanding ordinary shares number 170,146,099, excluding treasury shares.
Kerry’s third-quarter results are anticipated to be released on October 24, 2024.
The financial details of Kerry’s acquisition of LactoSens have not been disclosed.
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