Modest rise in Kerry Group shares after Niacet acquisition
€853 million acquisition of global leader in manufacturing preservation technologies only resulted in a 2 per cent lift in Kerry Group shares during morning trading
Shares in Kerry Group showed only a modest lift of 2 per cent in morning trading after the company announced the €853 million acquisition of Niacet, a US-based manufacturer of preservation technologies.
Kerry Group paid a multiple of 15.4 times earnings for the US company, which is expected to generate sales of $220 million this year and earnings (Ebitda) of $66 million. The business is extremely profitable with earnings margins in the region of 30 per cent.
Niacet is a...
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