IRELAND – Kerry Group plc, the global taste and nutrition company, has moved forward with the next phase of its €300 (US$324M) million share buyback initiative by purchasing 25,000 A ordinary shares on Euronext Dublin.
These newly acquired shares are set to be canceled as part of the company’s broader strategy aimed at increasing shareholder returns.
The share buyback program, which started earlier this year, is expected to run until December 19, 2024, reflecting the company’s focus on engaging shareholders and enhancing investor confidence.
After this latest purchase, the total number of Kerry Group’s ordinary shares stands at 170,146,099, excluding treasury shares.
This latest phase of the buyback comes as Kerry Group prepares to release its third-quarter financial results on October 24, 2024.
During a recent investor event in Beloit, Wisconsin, company executives indicated that the upcoming results are expected to align with market forecasts.
The event also highlighted Kerry’s ongoing focus on expanding its science and technology portfolio and provided an opportunity for the company to discuss its future growth strategies.
Kerry’s leadership team pointed out the company’s strong position in the Americas, emerging markets, and the foodservice industry, areas that they anticipate will contribute to further growth in the near future.
The company expects these regions to play a crucial role in its operational performance, especially as global demand increases for innovative food products and sustainable business practices.
Earlier this year, Kerry Group partnered with APC Microbiome Ireland (APC) at University College Cork to research how diet can improve cognitive health.
The collaboration will focus on developing biotic-based solutions targeting the gut-brain axis, aiming to address issues related to stress, anxiety, and mood.
These innovations will expand Kerry’s ProActive Health portfolio, which already offers a range of scientifically proven ingredients for the food, beverage, and supplement industries.
By combining APC’s two decades of microbiome research with Kerry’s expertise in bringing science-backed ingredients to global markets, the partnership aims to deliver novel gut-brain health products.
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