TRALEE, IRELAND – Kerry Group P.L.C. on Oct. 11 confirmed its acquisition of Ganeden, Inc., which offers patented probiotic ingredients. The acquisition will fit into Kerry’s nutrition, wellness and functionality portfolio, said Edmond Scanlon, chief executive officer and executive director of Tralee-based Kerry Group, during the company’s capital markets day.
Director of Corporate Affairs for Kerry Group
“Our acquisition of Ganeden strengthens our position in the nutritional actives market and enables us to use additional technologies to build our immune health and gut health market platforms,” said Frank Hayes, director of corporate affairs for Kerry Group.
Cleveland-based Ganeden owns more than 135 patents for probiotic technologies in the supplement, food, beverage, animal health, sports nutrition and personal care ingredients markets. GanedenBC30 (Bacillus coagulans GBI-30, 6086) is a patented probiotic ingredient found in food, beverage, sports nutrition and companion animal products around the world.
Executive Director, C.E.O. of Kerry Taste & Nutrition
Ganeden’s probiotic ingredients may be used in multiple applications beyond dairy and chilled, said Gerry Behan, executive director, c.e.o. of Kerry Taste & Nutrition.
“This technology, you can freeze this,” he said on capital markets day. “You can go to all kinds of process, and (it) still retains efficacy when it is consumed.”
The Kerry Group had revenues of €6,130.6 million in 2016, which included €4,880 million from the Taste & Nutrition business.
President and C.E.O. of Ganeden
“Kerry is a well-respected, global organization with extensive resources that will take Ganeden’s platform to the next level,” said Michael Bush, president and c.e.o. of Ganeden. “Their research, developments and applications infrastructure will provide continued growth opportunities for us globally and aid in the delivery of functional benefits to markets and customers that would have otherwise been difficult for us to reach on our own. We hope to leverage the combination of Kerry’s reach and R.&D. capabilities with our technologies to continue global expansion, ingredient developments and scientific advancements.”
C.E.O. and Executive Director of Kerry Group
At the capital markets day, Mr. Scanlon said Kerry Group expects to deliver adjusted earnings-per-share growth of more than 10% on a constant currency basis on average per annum over the next five-year cycle. He said Kerry Group expects to achieve 3% to 5% volume growth annually with Taste & Nutrition targeting 4% to 6% growth and Consumer Foods targeting 2% to 3% growth.