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BUSINESS WEEK : Kerry sweet on flavour firms.
(From Irish Independent)
KERRY Group has paid [euro]170m to buy four flavour businesses, significantly expanding its Mastertaste division, but also bringing it into the global fragrance market for the first time.
The purchase brings Kerry's outlay on acquisitions to almost [euro]600m this year and to[euro]1bn since the start of 2003.
Kerry has previously steered clear of the fragrance market, notably when it demurred onthe purchase of Bush-Boake-Allen a few years ago because two-thirds of that businesswas in the fragrance, rather than flavours, market.
This latest deal adds an entirely new business to the Kerry portfolio and will be run as …
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