Kerry Group is an Irish public food company headquartered in Tralee, County Kerry, Ireland. It is one of the world’s largest food ingredient manufacturers with production facilities on six continents. Kerry Group has established itself as a leading supplier of added-value brands and ingredients to the global food, beverage and pharmaceutical industries.
Kerry Group has come a long way since its modest beginnings in 1972 as a dairy co-operative in Ireland. Over the past five decades, through organic growth and strategic acquisitions, Kerry has transformed into a truly global leader in the food and beverage industry. Today, Kerry supplies over 15,000 food, beverage and pharmaceutical customers worldwide with its broad range of innovative ingredients, technologies and tasty food products. The company continues to push boundaries and redefine industry standards when it comes to exceeding customer expectations and delivering real, sustainable growth.
So what exactly is Kerry Group known for? Here are some of the key things that Kerry is renowned for within the food industry and beyond:
Taste and Nutrition Expertise
First and foremost, Kerry is known for its unparalleled expertise in taste and nutrition. With over 40 years experience, Kerry has established itself as a leading developer of great tasting, nutritious and safe food products that meet ever-evolving consumer demands. The company houses world-class facilities including research and development centers and state-of-the-art manufacturing plants across the globe dedicated to advancing food technologies and producing high-quality, sustainable ingredients and solutions.
Kerry employs over 1,000 food scientists, technologists and chefs who are experts in areas like flavor, taste modulation, food protection and personalized nutrition. They continuously innovate to create tasty food and beverage products that deliver on nutrition, wellness and performance goals. Kerry’s established nutrition and taste solutions like TasteSense, ProTeric and Wellmune have become trusted standards for major food and beverage manufacturers worldwide.
Leading Brands
In addition to being a key global supplier of food ingredients and technologies, Kerry also owns a collection of well-known leading consumer food brands. These brands include:
- Cheestrings – a popular string cheese snack
- Dairygold – a butter and spreads brand in Ireland
- Denny – a cooked meats brand in Ireland and the UK
- Ficello – a cheese brand
- Low Low – a low-fat dairy brand
- Richmond – a meat sausage brand in Ireland
- Rollover – a dog food brand
- Mattessons – a meat snack brand in the UK
Kerry strategically invests in building and expanding these brands across markets worldwide. The company leverages its consumer insights, market knowledge, distribution networks and locally tailored brand strategies to drive growth for these brands globally.
Sustainability Commitment
Kerry is known for its strong commitment to sustainability principles and practices throughout its operations. As one of the first food companies to establish sustainability targets over a decade ago, Kerry has become an environmental leader in the industry. The company has ambitious goals to reduce its carbon emissions, waste, water and energy usage substantially by 2030. Kerry aims to reach over 2 billion people with sustainable nutrition solutions by 2030. Its sustainability efforts and progress have been widely recognized through awards like being named to the Dow Jones Sustainability Index and CDP Climate Change A List.
Acquisition Strategy
Another thing Kerry is known for is its successful acquisition strategy. Kerry has consistently delivered growth through strategic acquisitions of companies that expand its expertise, technologies, geographic reach and product portfolio. Since 2010 alone, Kerry has completed over 35 acquisitions. Some major acquisitions include:
- Biosearch Life – Spanish company focused on probiotic technology
- Fleurchem – US-based flavors company
- Red Arrow Products – Manufacturer of food flavorings and culinary products
- Pevesa Biotech – Spanish company specializing in emulsification and stabilization
- Tecnispum – Mexican company known for aerated products
Kerry has a strong track record of seamlessly integrating acquired companies to fuel growth, innovation and value creation across the larger Kerry Group.
History
To better understand how Kerry Group has become the global leader it is today, it is helpful to look back at some key events in the company’s 50-year history:
1970s – Formation in Ireland
- 1972 – Kerry Co-operative Creameries is formed in Ireland from the merger of four separate dairy co-operatives
- 1974 – Kerry first enters the food ingredients business by producing casein, lactose and specialty dairy fats
- 1978 – Kerry begins producing consumer food products under the Dairygold brand name
1980s – Early Expansion
- 1980 – Kerry establishes first overseas operation in the United States
- 1987 – Kerry purchases Beatreme Food Ingredients, its first international acquisition
1990s – Transforming into an International Leader
- 1991 – Company changes name to Kerry Group PLC to reflect its growing international presence
- 1993 – Kerry purchases the UK-based flavour company Quest International, marking a major strategic move into the global food ingredients industry
- 1995 – Kerry establishes major presence in continental Europe by acquiring the German dairy company Wiesmann
- 1998 – Kerry enters the chilled ready meals category by acquiring Gram Commercial Foods in the UK
2000s – Rapid Global Expansion
- 2000 – Kerry founds the Kerry Research and Innovation Centre in Ireland
- 2002 – Kerry expands into key developing markets like Asia Pacific, Russia and Latin America
- 2007 – Kerry enters the Irish consumer foods market through the acquisition of Denny Meat
2010 – Present Day – Continued Growth Through Acquisitions
- 2011 – Kerry acquires Cargill’s global flavors business
- 2012 – Kerry acquires the nutrition company Ganeden Biotech
- 2014 – Kerry purchases savory taste company Savoury Systems International
- 2017 – Kerry acquires the US-based seasoning company Omni Ingredients
- 2021 – Kerry acquires the preservative manufacturer Niacet Corp
Global Operations
Today, Kerry operates over 150 manufacturing facilities and R&D centers worldwide across six continents. The company employs over 26,000 people globally. Some details on Kerry’s main regional operations include:
Europe
- Kerry’s European headquarters is located in Tralee, Ireland
- Operates 51+ manufacturing facilities throughout Europe
- Key R&D centers located in Ireland, Netherlands and Germany
- Employs 14,000+ people in Europe
- Manufactures technologies and solutions for the dairy, meat, bakery, snacks, cereal, pharmaceutical and pet care industries in Europe
North America
- Regional headquarters located in Beloit, Wisconsin, USA
- 30+ manufacturing facilities throughout the USA and Canada
- R&D centers in key locations like Wisconsin, Missouri, Georgia, California and Toronto
- 6,000+ employees in North America region
- Produces flavors, seasonings, functional ingredients and consumer products
Asia Pacific
- APAC headquarters located in Singapore
- Owns 15 manufacturing facilities in China, India, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam
- R&D centers in Singapore, China and Australia
- 3,000+ employees in APAC region
- Manufactures food protection solutions, taste technologies, savory ingredients, etc.
South America
- Regional HQ in Sao Paulo, Brazil
- Operations in Brazil, Mexico, Chile, Argentina, Colombia and Ecuador
- 1,000+ employees in South America
- Produces a range of food ingredients for the meat, dairy, snacks and bakery industries
Middle East and Africa
- Regional headquarters located in Dubai, UAE
- Key facilities in South Africa, Saudi Arabia and Nigeria
- 600+ employees in the region
- Manufactures taste and nutrition systems for local markets
Financial Performance
Kerry Group has delivered impressive and consistent financial results over the past decade, showcasing its strengths as a strategically well-managed business. Some key facts about Kerry’s recent financial track record include:
- Revenue has grown from €5.2 billion in 2011 to €7.4 billion in 2021, representing a ~43% increase over 10 years
- Trading profit has risen steadily from €555 million to €902 million between 2011-2021 (+62%)
- The company has achieved a compounded annual growth rate (CAGR) of 6.3% for revenue and 8.7% for trading profit since 2011
- Kerry’s adjusted earnings per share improved from 183.5 cent in 2018 to 243.9 cent in 2021
- The company delivered a record free cash flow of €1.1 billion in 2021, up 18.4% over the prior year
The table below shows Kerry’s financial performance over the past 5 years:
Year | Revenue (€m) | Trading Profit (€m) | Adjusted EPS (cent) |
---|---|---|---|
2017 | 6,400.7 | 747.3 | 203.7 |
2018 | 6,611.8 | 852.6 | 183.5 |
2019 | 6,923.3 | 916.5 | 240.1 |
2020 | 7,128.4 | 902.5 | 236.5 |
2021 | 7,449.6 | 902.1 | 243.9 |
This consistent growth and profitability has allowed Kerry to deliver substantial returns to shareholders. Kerry’s share price has risen from €39 in October 2012 to around €95 as of October 2022, representing an increase of 143% over the past decade. The company has paid rising dividends to shareholders, increasing from 34 cent per share in 2012 to 66 cent in 2021.
Leadership Team
Kerry Group is led by a highly experienced executive management team that sets the strategic vision and guides the company to continued growth and success globally. Some of the key leaders include:
- Edmond Scanlon – Group CEO: Serving as chief executive officer since March 2015. He has worked for Kerry for over 30 years in various global roles covering operations, commercial and corporate development.
- Marguerite Larkin – Chief Financial Officer: Appointed CFO in 2020 after serving as chief executive officer for Kerry’s Meats and Meals business. She has been with the company since 1992.
- Gerry Behan – Chief Technology Officer: Responsible for leading Kerry’s global innovation and technology agenda. Has spent over 20 years with Kerry in R&D and technology roles.
- Mike O’Sullivan – Chief Strategy Officer: Leads strategy development for future business growth. Has managed acquisitions and integrations for Kerry since 2003.
- Rónán Sharpley – VP of Group HR: Oversees strategic workforce planning and talent development globally. Has been with Kerry for 26 years in various HR leadership roles.
Together with over 1,000 highly skilled food scientists, technologists and engineers, Kerry’s leadership team has shepherded the company’s transformation into the thriving global leader it is today.
Industry Reputation
Within the broader food and beverage industry, Kerry is known for having an excellent reputation as a trusted, customer-focused ingredients partner. The company has built strong relationships with organizations of all sizes through its collaborative approach, passion for innovation and commitment to shared success. Some signs of Kerry’s strong industry reputation include:
- Long-term partnerships – Kerry forms longstanding partnerships with customers like Nestlé, Kraft-Heinz, Unilever, PepsiCo and General Mills
- Repeat business – Over 80% of Kerry’s business comes from repeat customers, indicating high satisfaction
- Referrals – Kerry frequently receives referrals and new business from existing satisfied customers
- Awards – Kerry receives many awards recognizing its customer service, innovation and industry leadership
- Ratings – Kerry is consistently rated highly on supplier scorecards for criteria like quality, collaboration, business results
At industry conferences and events, Kerry is known for showcasing exciting new innovations and demonstrating thought leadership through presentations and insights sharing. The depth of Kerry’s technical expertise and passion for understanding customers’ needs make the company highly regarded across the food, beverage and pharmaceutical industries globally.
Corporate Culture
Kerry Group prides itself on an open, entrepreneurial and collaborative corporate culture that empowers people to perform at their best. Some defining elements of Kerry’s culture include:
- Collaboration – Cross-functional project teams bring diverse perspectives together to drive innovation
- Transparency – Leaders openly share business context and provide clarity on priorities
- Recognition – People are praised when they go “beyond” expectations for customers
- Career growth – Internal mobility and training foster skill building and advancement
- Work-life balance – Flexible, family-friendly policies create an inclusive environment
This people-focused culture helps attract and retain top talent at Kerry facilities worldwide. Employees praise the culture for providing opportunities to learn on the job while making an impact. Kerry actively listens to employees to continue cultivating a culture centered on both people and performance.
Conclusion
In summary, Kerry Group has cemented itself as a global leader in the food and beverage industry due to its:
- Expertise in great tasting, nutritious ingredients and products
- Growing portfolio of leading consumer food brands
- Commitment to sustainability and responsible business
- Proven acquisition strategy that drives growth
- Global scale with operations spanning six continents
- Strong and consistent financial track record
- Visionary leadership team guiding innovation and growth
- Excellent reputation as a trusted, customer-focused partner
- Values-driven, entrepreneurial corporate culture
After a remarkable 50-year journey, Kerry Group remains well-positioned to continue shaping the future of food and beverage through its technologies, solutions and collaborative approach. With sustainability at its core, Kerry aims to continue meeting the needs of customers, consumers and shareholders for the next 50 years and beyond.