IRELAND — Kerry Group, the world’s leading taste and nutrition company, is acquiring two biotechnology companies to expand its expertise, technology portfolio and manufacturing capabilities.
The first acquisition involves Enmex which was acquired for approximately €62 million (US$70.4 million).
Enmex is a Mexico-based enzyme manufacturer that supplies multiple bioprocess solutions for food, beverage, and animal nutrition markets.
The company has a complementary enzyme portfolio and strong manufacturing infrastructure which Kerry expects will assist in the expansion of its fermentation and enzyme manufacturing capabilities into Latin America.
“This strategic acquisition of Enmex will complement Kerry’s existing enzyme portfolio and build on our strength in enzymes for modifying cereals and grains,” said Neil Cracknell, chief executive officer of Kerry Applied Health and Nutrition.
“We see enzymes playing a critical role in helping achieve Kerry’s vision to create a world of sustainable nutrition, which is about providing better nutrition, with better processes, which have less impact on our earth’s resources.”
US$155m acquisition of C-LEcta
The second acquisition involves the acquisition of a 92% stake in Germany-based biotechnology innovation company c-LEcta at a purchase price of approximately €137 million (US$154.9 million).
c-LEcta specializes in precision fermentation, optimized bio-processing, and biotransformation for the creation of high-value targeted enzymes and ingredients.
The company primarily is known for its innovations in the pharmaceutical market but also has a strong pipeline of functional bioactives across food, beverage and other consumer markets.
“The food and pharmaceutical industries are on the cusp of a new wave of innovation where new developments in biotechnology, synthetic biology and precision fermentation are radically transforming these sectors,” said Albert McQuad, PhD, chief science and technology officer at Kerry.
Kerry hopes c-LEcta’s expertise in fermentation-based products such as disruptive new enzymes will accelerate its innovation capabilities in enzyme engineering, fermentation and bio-process development.
c-LEcta is also expected to leverage Kerry’s broad market reach across food and pharma markets, combined with its deep enzyme applications expertise and integrated ingredient technology design to accelerate its own growth potential.
Ambitious global expansion
Kerry has been making ambitious expansion moves in the recent past with an aim of consolidating its positions in key markets globally.
In December last year, the Ireland-based company acquired Afribon, a Rwanda-based food ingredients company specialising in the development, production, and marketing of food flavours.
Early last year, Kerry made another bold move of opening a new facility in Saudi Arabia.
The 21,500-square-foot facility is Kerry’s largest in the Middle East, North Africa and Turkey (MENAT) region.
The facility is located at Kerry’s Jeddah operation and will produce sustainable food ingredients particularly for the snack, meat, and bakery sectors.
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