Kerry Acquires Specialty Food Ingredients Businesses

The Kerry Group has signed an agreement to purchase the SFI Group of specialty food ingredients businesses comprising Shade Foods, Inc in the U.S. and Specialty Food Ingredients in Europe. The transaction is expected to be completed by the end of the year.

Shade Foods and SFI provide flavored particulates, high protein inclusions and specialty chocolate and compound coatings to manufacturers of ready-to-eat cereals, confectionery, dairy, ice cream, bakery and nutraceutical products. The company has three plants in the U.S., located in Kansas City, San Jose, CA; and Hudson, IA, and one plant in Europe based in Tilbury, the Netherlands.

In addition to their purchase, the Kerry Group was included in the fourth annual list of Industry Week's 100 Best-Managed Companies. Kerry was selected after an evaluation that included the analysis of the company's financial performance, review of a questionnire that each Industry Week 1000 company was given to complete, research into each company's practices in areas such as philanthropy and safety, and voting by a panel of more than 100 business leaders, analysts, and academicians. The company will be recognized at the 100 Best-Managed Companies Awards Celebration and Executive Summit held at the Leows Ventana Canyon Resort in Tucson, AZ.

Edited by Christine Fraser