According to The Irish Times, Kerry Group has acquired Ganeden, an innovation company focused on probiotics. Complementing the Group’s acquisition of Wellmune in 2015, the acquired Ganeden technologies will be extended into wider applications across Kerry’s global developed and developing markets. Ganeden has current year revenue of $25 million and more than 135 patents for technologies in the supplement, food, beverage, nutrition, and personal care markets.
Edmond Scanlon, Kerry Group’s chief executive, expects to deliver more than 10% adjusted earnings per share growth on average per year over the next five years. “This will be delivered through achievement of above industry-average volume growth and continued business margin expansion,” said Scanlon. “We expect to achieve 3% to 5% volume growth annually on a groupwide basis, with taste and nutrition targeting 4% to 6% growth and consumer foods targeting 2% to 3% growth.”
Kerry press release (pdf)