The story
Kerry was founded in 1972 in Listowel, County Kerry as a private company (North Kerry Milk Products) with three shareholders – state-owned Dairy Disposal Company (42.5%), a federation of eight small farmer co-operatives in Kerry (42.5%) and Erie Casein Company Inc. from the US (15%).
In 1986, a significant milestone in the formation of the public limited company involved the group acquiring the undertaking, property and assets of Kerry Co-operative Creameries and as a consideration 90 million ordinary shares in Kerry Group plc being issued to the Co-op. It floated on the Irish Stock Exchange at a price of 52p per share.
Kerry Group has a long history of acquisitions. In 1982, the company acquired pork manufacturer Duffy Meats and Henry Denny & Sons. In 1988, it acquired Beatreme Food Ingredients, a division of the Beatrice Corporation for $130m. In 2000, it acquired Shade Foods Inc, a US sweet ingredients provider for US$80 million, Armor Foods, a savory flavorings company for US$35 million and Solnuts, a provider of value-added soy-based nutritional ingredients.
In March 2004, the company bought the Food Ingredients division of Quest International, for US$440 million. Then in August 2005, the company acquired Noon Products, a supplier of Indian and Thai ready meals, for £124m.
In September 2012, the company acquired Cargill Flavor Systems, a manufacturer of food flavouring, for $230 million.
In February 2015, the company acquired Rollover, a supplier of hot dogs. Then in October 2015, the company acquired Red Arrow Products, Island Oasis and Wellmune, three businesses in the US taste and nutrition sector, for US$735 million.
In 2021, Kerry was on the list of Industry Outlook's Top 10 Food Additive Manufacturers, in addition to being ranked second on the Top 20 Global Food Preservative Companies list by FoodTalks, a Chinese food media platform.
In June 2021, Pilgrim's Pride agreed to buy Kerry Group's consumer foods in the meat and meals business. In June 2021, Kerry Group also agreed to acquire Niacet for the value of €853 million.
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In July 2021, the company acquired Biosearch Life, a biotechnology company focused on the pharmaceutical, nutraceutical and functional food sectors.
In February 2022, the organisation announced two acquisitions: c-LEcta, a biotechnology company, and Enmex, a Mexican-based enzyme manufacturer.
In April 2022, Kerry Group acquired Natreon, Inc, a US based supplier of branded Ayurvedic botanical ingredients.
In August 2022, Kerry Group acquired the B2B powdered cheese business and related assets of The Kraft Heinz Company for consideration of $107.5 million.
In January 2023, IRCA, Advent International's portfolio company, agreed to buy Kerry Group's Sweet Ingredients Portfolio for €500 million.
In December 2023, the company acquired the lactase enzyme business of Danish companies Chr. Hansen and Novozymes for €150 million.
Divestment of Kerry Dairy Ireland
In November 2024, Kerry Group agreed to sell Kerry Dairy Ireland, its Irish consumer dairy products and dairy ingredients business, to Kerry Co-operative Creameries on the basis of an enterprise value of approximately €500 million. Under the agreement, the Co-op acquired an initial 70 per cent interest for €350 million. Kerry Group shareholders approved the transaction later that month, and its first phase was completed on 31 December 2024. Following completion of the first phase of the transaction, Kerry Dairy Ireland was treated as a discontinued operation in Kerry Group's 2024 financial results. In May 2026, the business was renamed Kinisla as part of a rebranding announced alongside a €300 million five-year investment programme.
From Wikipedia’s article on Kerry Group, shared under CC BY-SA 4.0.5