Investments & Finance

Kerry Completes Strategic Acquisitions of Two Biotechnology Companies

Kerry, one of the world’s leading companies for taste and nutrition solutions, has reached an agreement on significant strategic biotechnology acquisitions.

According to Kerry, millions of people throughout the world are consuming food and beverage products containing Kerry’s taste and nutrition solutions. Following Kerry’s announcement to become a plant-based leader in 2018, Kerry has reported steady growth through its plant-based divisions that include the Richmond and Naked Glory brands.  

Naked Glory
©Naked Glory

Strategic Acquisitions of Biotechnology Companies Since 2020

Back in 2020, food giant Kerry Group has acquired Pevesa Biotech, a Spanish specialist in non-allergenic and organic plant proteins. The acquisition was designed to strengthen Kerry’s leading position in the plant-based industry.

Kerry is now significantly expanding its expertise and know-how in biotechnology, completing two acquisitions in just a few months:

Fermentation specialist c-LEcta, Germany

Kerry Group just announced it has reached an agreement to acquire 92% of the issued share capital of c-LEctra GmbH for a consideration of €137m, with management to retain the balance. Based in  Germany and employing over 100 people, c-LEcta is a leading biotechnology innovation company specialising in precision fermentation, optimised bio-processing and bio-transformation for the creation of high-value targeted enzymes and ingredients.

Image courtesy Kerry Foods

This strategically compelling combination will accelerate Kerry’s innovation capabilities in enzyme engineering, fermentation and bio-process development. This acquisition will further support Kerry’s commitment to invest in the development of innovative sustainable technologies, which will be at the heart of future sustainable food and health systems.

Enzyme manufacturer Enmex, Mexico

In December 2021, Kerry Group acquired 100% of the issued share capital of Enmex S.A for a consideration of €62m. Enmex is a well-established enzyme manufacturer based in Mexico. Supplying multiple bio-process solutions for food, beverage and animal nutrition markets, Enmex is set to extend Kerry’s fermentation and enzyme manufacturing capabilities into Latin America.

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