Ireland-based food ingredients and flavors group Kerry has completed the acquisition of South Africa-based sweet ingredient solutions supplier Orley Foods for an undisclosed sum.
Kerry noted that this acquisition is in line with its plan to cater to the world's leading food and beverage brands as they start to meet fast-growing local appetites for the next generation of products in Europe, the Middle East and Africa (EMEA).
Orley Foods, based in Cape Town, provides sweet ingredients for the confectionery, ice cream, beverage, cereal, dairy and bakery markets. A part of the Libstar Holdings, the company has been catering to the food industry since 50 years.
This deal comes a year after Kerry acquired South Africa-based FlavourCraft and complements its earlier acquisition of Cargill's global flavor business.
Kerry Ingredients & Flavours EMEA Developing Markets president Scott Scharinger said that the deal is a key part of the company's strategy to work alongside its global customer base, finding ways to deliver a unique range of ingredient and flavour technologies and food science know-how in the territories where they are being consumed.
"Although South Africa is an important market for us in its own right, it is also the springboard for our expansion into other important and growing sub-Saharan countries such as Nigeria and Kenya," Scharinger added.
Orley Foods CEO Craig Henry said the acquisition will allow the company to cater to the regional tastes, aligning the ingredients and flavors offering with customer needs in developed and developing markets.
