Biosearch will be integrated into Kerry’s global ProActive Health platform of ‘science-backed’ branded ingredients, expanding the group’s reach into the healthy aging, joint health and digestive health sectors of functional food ingredients.
Commenting on the deal, Kerry president of Applied Health & Nutrition Neil Cracknell said: “Our acquisition of Biosearch Life is aligned with our strategic priorities to expand our branded, science backed ingredient portfolio, as well as developing our dietary supplement capabilities and market offering.
Extending Kerry’s offering
“Biosearch Life extends our probiotics offering with the addition of the science-backed Hereditum® strains and further broadens our portfolio with the Exxentia® range of functional botanical extracts and Eupoly-3® natural Omega-3 oils.”
Based in Grenada, Spain, Biosearch Life manufactures and distributes functional ingredients including probiotics, along with an extensive portfolio of science-backed botanical extracts and ‘ultra-purified’ omega-3 oils.
“These market-leading technologies allow us to address new health need states, enhance our credibility and leadership in science-backed branded actives and supports our ambition to be a leader in sustainable nutrition solutions,” Cracknell added.
Focus on ingredients
The finalisation of the Biosearch deal comes less than a month after Kerry reached an agreement to sell its meats and meals business in the UK and Ireland to Pilgrim’s Pride for £704m.
At the time, chief executive Edmond Scanlon said the transaction further enhanced Kerry’s focus on its food and beverage ingredients business.
That same month saw the ingredients group strike a deal to buy preservation technology firm Niacet for £731m, with the acquisition expected to be completed by the end of the third quarter of 2021 – subject to customary closing conditions and regulatory approval.
Niacet, projected to generate revenues of £158.6m and EBITDA of £47.6m for 2021, will be integrated into Kerry’s global food protection and preservation platform.
Meanwhile, last week, potato processor Wolds Produce has acquired independent potato seed business WM Quarrie for an undisclosed sum.