Global ingredients, flavours and consumer foods giant, the Kerry Group, announced earlier today [Monday] that it has acquired French company Aromont. It added details of a proposed acquisition of Ohio, USA-based Stearns & Lehman Inc.
The completed acquisition of the Montcornet, France-based Aromont, a producer of culinary ingredients and liquid sauces for the ready meals, meal solutions and foodservice industries in Europe, has been welcomed by the group as “complementing the recent acquisition of Voyager Foods in the UK”.
Hugh Friel, MD of the Kerry Group, added: “The addition of Aromont is a further significant step in Kerry’s strategy to develop a leading position in the culinary ingredients sector throughout European markets.”
Stearns & Lehman is meanwhile a leading manufacturer of branded Italian-style flavoured syrups, beverage flavourings and toppings for the speciality coffee and beverage industries. Friel added that this sector is seeing profitable growth and that “with Kerry’s focus on foodservice markets and its global presence, the addition of this specialist beverage flavouring technology represents an exciting new development for the Group”.
Kerry is expected to pay about US$26m for Stearns &Lehman, subject to Stearns & Lehman shareholder approval, and overall has budgeted a total consideration of about US$44.5m for both businesses.
