Carbery Group, the West Cork-based ingredients, flavours, and cheese producer, has agreed a deal to buy the US flavours business of Prinova.
Prinova is a wholly owned subsidiary of the NAGASE Group and a global supplier of ingredients and premix manufacturing solutions.
The company said the deal will expand Carbery's business in the US, which trades as Synergy Flavors.
Carbery Group has facilities in eight locations globally including Ireland, the US, the UK, Brazil, Italy, Singapore, Thailand and Indonesia and produces dairy and nutritional ingredients for more than 50 markets globally.
Carbery CEO Jason Hawkins said today's acquisition will be a great addition to the Synergy business portfolio, and gives it a broader offering for its customers.
"We will continue to diversify our business to deliver value for shareholders, service and innovation for our customers and to retain and grow our excellent global team," Mr Hawkins said.
Synergy US CEO Kevin Collins said the deal was a great opportunity for Synergy US to add to its business and customer offerings.
"The acquisition builds on our existing capabilities in our Flavours business and creates the ability to support long-term growth across a multitude of categories," Mr Collins said.
"Our expanded team's flavour expertise and capability will help our customers to achieve their strategic growth ambitions. I know our shared commitment to creating a positive culture will enable us to work closely with our colleagues in Prinova to ensure a coordinated and smooth transition for all customers," he added
