Ingredients giant Kerry Foods has agreed to pay €325m for two acquisitions in the United States, bringing the group's total acquisition spend this year to more than €800m - its highest annual figure since 2015. Ingredients giant Kerry Foods has agreed to pay €325m for two acquisitions in the United States, bringing the group's total acquisition spend this year to more than €800m - its highest annual figure since 2015. Kerry said the acquisitions will enhance its "foundational technology portfolio" and strengthen its food service positioning, in line with its strategic growth priorities. The privately-owned Southeastern Mills business being bought by Kerry manufactures coatings and seasonings at a facility in Rome, Georgia. Last month, Kerry reaffirmed its full-year guidance, with expected adjusted earnings per share growth of between 7pc and 10pc for 2018.

Source: Irish Independent December 15, 2018 02:30 UTC