US & Canadian Bakery Mix Business Sold for US$100m
Kerry Group PLC
16 February 2000
Kerry sells its US and Canadian bakery mix business for
US$100m.
Kerry Group announces the sale of its DCA bakery business
in the US and Canada to Pillsbury Bakeries & Foodservice,
a division of the Pillsbury Company, a Diageo
subsidiary, for US$100m. Regulatory approvals have been
received from the FTC and Canadian Competition Bureau.
The transaction comprises manufacturing plants located in
Vancouver, BC; Mississauga and Trenton, Ontario;
Hillsdale, Michigan; New Orleans, Louisiana and City of
Industry, California. Acquired by Kerry as part of the
food ingredients business of DCA Food Industries Inc. in
December 1994, the business manufactures bakery mixes,
fillings, icings and glazes for the bakery business in
the US and Canada and had sales of US$102m in the
financial year ended 31 December 1999.
Proceeds of the disposal to be completed on 18 February
2000 will be applied in the further expansion and
development of Kerry's global ingredients operations.
Kerry Group is a major international food ingredients and
consumer foods corporation with current annualised sales
in excess of Euro2.4 billion (US$2.4 billion). In
ingredients markets Kerry's core technologies and global
resources in cheese and dairy flavourings, savoury
flavourings, coating systems, speciality lipid
ingredients, flavours, functional dairy ingredients,
fruit preparations, dehydrates and inclusions, provide
innovative, practical product solutions to food
manufacturers and foodservice companies in some eighty
countries.
Kerry recently concluded the purchase of the SFI Group of
speciality food ingredients businesses comprising Shade
Foods Inc. in the USA and Speciality Food Ingredients
(SFI) in Europe for a total consideration of US$80m.
Leaders in food ingredients particulates technology,
Shade Foods and SFI provide flavoured particulates, high
protein inclusions and speciality chocolate and compound
coatings to leading manufacturers of ready to eat
cereals, confectionery, dairy, ice cream, bakery and
nutraceutical products.
For further information please contact:
Frank Hayes,
Director of Corporate Affairs,
Kerry Group plc,
Prince's Street, Tralee, Co. Kerry, Ireland.
Telephone: 00 353 66 7182304
Fax: 00 353 66 7182972
Web: www.kerrygroup.com
Email: frank.hayes@kerry.ie
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