Kerry Group, the global ingredients & flavours and consumer foods group, today confirmed that it has entered into an agreement to acquire Cargill’s global flavours business. Cargill Flavor Systems with annual revenues of approximately US$200m (EUR148.1m) is being acquired by Kerry for a consideration of US$230m, subject to closing adjustments.

Cargill Flavor Systems has an international flavour technology development expertise serving a customer base through provision of flavour ingredients and flavour systems for beverage, dairy, sweet and savoury applications. The business has long-standing relationships with leading global food and beverage manufacturers and employs 700 people through its integrated flavour development and application centres in France, the UK, South Africa, India, Malaysia, China, the US, Puerto-Rico, Mexico and Brazil, supported by a network of sales representative offices in 12 other countries.

The acquisition of Cargill Flavor Systems will strengthen Kerry’s capability to provide integrated customer solutions across all food and beverage end-use-markets and extend the group’s market spread in emerging markets, according to Kerry.