Taste and nutrition company Kerry is investing €200 million in two acquisitions in the biotechnology industry that it said would expand its expertise, technology portfolio and manufacturing capabilities.
Kerry said it had agreed a deal to acquire German biotechnology innovation company c-LEcta for €137m and had also acquired the Mexican-based enzyme manufacturer Enmex. The group acquired 100 per cent of the issued share capital of Enmex in December for €62 million.
C-LEcta specialises in precision fermentation, optimised bio-processing and bio-transformation for the creation of high-value targeted enzymes and ingredients. It employs more than 100 people.
“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 Dr Albert McQuaid, chief science and technology officer of 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.”
Enmex supplies multiple bio-process solutions for food, beverage and animal nutrition markets. Its complementary enzyme portfolio and a strong manufacturing infrastructure will extend Kerry’s fermentation and enzyme manufacturing capabilities into Latin America.
Neil Cracknell, chief executive of Kerry Applied Health and Nutrition, said the strategic acquisition of Enmex would build on Kerry's strength in enzymes for modifying cereals and grains.
“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,” he said.
“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.”
