Kerry Group in talks to buy flavours unit of US agribusiness giant Cargill
16 Jul 2011
Kerry Group, global food ingredients suppliers, yesterday said that it is in talks to buy the flavours unit of US agribusiness giant Cargill, as it consolidates its higher-margin ingredients business.
Minnesota, US-based Cargill said that it is in exclusive discussions with kerry which may, or may not result in the sale of the business.
''Both companies are now engaging in the full consultation process with employee representative bodies in the relevant countries, a process which should take in the region of four to six weeks,'' said Cargill in a statement.
Cargill Flavor Systems, which has revenues of around $200 million, spans 22 countries, with production facilities in Europe, North America and Asia.
The company employs around 700 people and provides flavour ingredients and flavours for the beverage, dairy, sweet and savoury categories across a wide range of applications.
Cargill Flavor Systems is built around the Degussa Food Ingredients flavor business, which it acquired April 2006 and Duckworth Flavors, an existing business in the UK.
