Kerry Group cements Latin-Am foray - Company News - Brief Article

Eurofood,  Feb 14, 2002  

• E-mail
• Print
• Link

Ireland's Kerry Group, a major producer of ingredients for the food industry, has consolidated its expansion into Latin America with its acquisition of instant coffee and milk powder producer Nutrir.

The purchase marks the group's second acquisition in Brazil in less than two months and forms part of a US$100m (116.1m [euro]) investment programme, which also includes Kerry's assets in UK-based sauce producer Voyager Foods.

Kerry bought Brazilian firm Siber, a manufacturer of inputs for ice cream in December 2001. The group's total acquisition plan consumed US$702m in 2001.

"Our philosophy is based on organic growth in the area of product lines, as well as in acquisitions. South America, especially Brazil, is one of our priorities since we know that it is in emerging markets that you really have the possibility to gain leverage," said Silvia Furtado, Kerry marketing manager for South America.

Nutrir, which manufactures ready-to-eat food products, a new market for the Irish group, is viewed as a strategic acquisition. The company has an innovative track record, backed up by its launch of the lust instant cappuccino product to hit Brazil in 1991.

The company's main brand is Porto Fino - a line which includes soluble coffee, chocolate drinks, cappuccino and cafe au lait as well as powder based drinks made with milk and fruit pulp.

Nutrir posted turnover of BrR45m (21.6m [euro]) in 2001 operating at 60% capacity, which can reach 24 000 tonnes annually.

COPYRIGHT 2002 Agra Europe Ltd.
COPYRIGHT 2002 Gale Group