Global ingredient solutions company, Ingredion Incorporated, has announced it will acquire Kerr Concentrates for around $100m (£65m).
Kerr, based in Oregon, US, produces natural fruit and vegetable concentrates, purees and essences- something Ingredion believes is in increasing demand for customers. The deal is set to close within 30 business days.
Chief executive Ilene Gordon said: “Kerr is a profitable company with an exciting portfolio of value-added ingredients that will broaden our current line of wholesome, clean-label solutions.
“This is an opportunity to grow Kerr’s portfolio with our advanced technologies and product-development capabilities. We intend to expand the business with our broad customer network and global presence.”
This comes as the company aims to extend its ‘clean-label’ offerings further, as the trend for natural products spreads in the UK.
“This extends our clean-label offerings beyond ingredient solutions made from corn, tapioca and potato, and we continue to look for acquisition opportunities in this space,” Gordon said.
Kerr operates two production facilities and is currently privately held.