Food group Kerry today launched its global flavour division, Mastertaste, and said that it plans to further expand in the flavourings industry.
Kerry said Mastertaste would bring together the company's five recently acquired flavourings businesses with the Mastertaste UK and Australian flavour businesses bought in 1998, under the one global brand.
The development is designed to expand Kerry's presence in major market categories including savoury products, beverages and confectionery.
After spending $26 million on a US beverage flavourings company Stearn and Lehman in January, Kerry said it was eyeing bolt-on acquisitions in the flavours market.
'Supported by the Group's understanding of food and beverage applications and consumer requirements, and its culinary expertise, I believe Mastertaste is in a unique position to meet the flavour requirements of food and beverage companies on a worldwide basis', said Kevin Lane, Mastertaste President and CEO.
Shares in Kerry had slipped 25 cent to stand at €15.55 at this evening's close of trade in Dublin.
