TRALEE, IRELAND — Kerry Group has announced one acquisition and the agreement to complete another that are expected to give it a broader footprint in biotechnology and expand its expertise, technology portfolio and manufacturing capabilities.
The first acquisition involves Enmex, a Tlalnepantla de Baz, Mexico-based enzyme manufacturer. Enmex supplies multiple bio-process solutions for food, beverage and animal nutrition markets. Kerry said Enmex has a complementary enzyme portfolio and strong manufacturing infrastructure that are expected to assist in Kerry’s expansion of its fermentation and enzyme manufacturing capabilities into Latin America.
Kerry acquired Enmex for approximately €62 million ($70.4 million) on Dec. 14, 2021.
“Enzymes are increasingly playing a vital role as biocatalysts in the food, beverage and pharmaceutical industries, where they deliver many benefits, including improved product quality, increased process efficiency, and reduced food waste, through both minimization of waste and valorisation of waste streams,” said Neil Cracknell, chief executive officer of Kerry Applied Health and Nutrition. “This strategic acquisition of Enmex will complement Kerry’s existing enzyme portfolio and build on our strength in enzymes for modifying cereals and grains. We see enzymes playing a critical role in helping achieve Kerry’s vision to create a world of sustainable nutrition, which is about providing better nutrition, with better processes, which have less impact on our earth’s resources.”
Kerry also has agreed to acquire c-LEcta, a Leipzig, Germany-based biotechnology innovation company that specializes in precision fermentation, optimized bio-processing and bio-transformation for the creation of high-value targeted enzymes and ingredients. The company primarily is known for its innovations in the pharmaceutical market but also has a strong pipeline of functional bioactives across food, beverage and other consumer markets.
The transaction includes a 92% stake in c-LEcta at a purchase price of approximately €137 million ($154.9 million).“The food and pharmaceutical industries are on the cusp of a new wave of innovation where new developments in biotechnology, synthetic biology and precision fermentation are radically transforming these sectors,” said Albert McQuad, PhD, chief science and technology officer at Kerry. “c-LEcta is a leader in these new technologies, which includes fermentation-based products such as disruptive new enzymes, and the strategically compelling combination with Kerry will accelerate our innovation capabilities in enzyme engineering, fermentation and bio-process development. Our broad market reach across food and pharma markets, combined with our deep enzyme applications expertise and integrated ingredient technology design, will enable and accelerate the growth potential of c-LEcta’s strong portfolio and technology capabilities while also supporting us in the creation of tastier, more sustainable and healthier products.”