Irish Food Company Acquires Missouri Business
Irish food giant Kerry Group has acquired local Missouri food ingredients business, Custom Industries.
Custom Industries, along with Minnesota firm Nuvex Ingredients were acquired for a total of $83m (€68.5m) - which seems like a bargain for businesses with annual revenues of $83.7m (€69.1m). No wonder they bought two.
Custom Industries makes particulates for bakery and ready-to-eat cereal and ingredients for sweet goods. It operates from St Genevieve, Missouri (and Toronto).
Kerry Group is headquartered in Tralee in County Kerry in the southwest of Ireland. Kerry food brands in Ireland you may be familiar with include Denny, Dawn, Ballyfree, and my favourite, Low-Low.
Handy Irish Phrase: Gheibheann pingin pingin eile (A penny gets another penny)
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