Kerry Foods International Inc history

The Kerry Group was formally established as Kerry Co-operative Creameries Limited in 1974, in Kerry County, Ireland.

The new co-op acquired the independent Killarney, Limerick and Ballinahina Dairies in 1978, which later became part of Kerry's Dawn Dairies, along with Galway and Moate Dairies.

An early addition was the pork products category, which the company entered with the acquisitions of two prominent Irish pork products producers, Duffy Meats and Henry Denny & Sons, both acquired in 1982.

1983 was an important year for Kerry Co-op when it decided to establish US and UK headquarters, opening offices in Chicago and in London.

By 1985, Kerry was moving fast with sales of €268m and pre-tax profits of €6.5m.

The company continued its expansion in Ireland with the 1986 acquisition of Snowcream Dairies Moate, and the formation of a Convenience Foods division, bringing the company into this increasingly prominent market--particularly with the steady adoption of this food trend among European consumers.

At the same time, Kerry also established a presence in the United States, opening a dairy processing facility in Jackson, Wisconsin in 1987.

Part of the company’s United States growth came from the acquisition of existing businesses, including the 1988 acquisition of Beatreme Food Ingredients.

Listed on London Stock Exchange 19 April 1990.

At the end of 1991, Kerry’s annual sales surged to IR£ 755 million.

The Irish poultry processing company Kantoher Food Products was also acquired in 1992.

These were joined by the company's move into Canada, with the 1993 acquisitions of Malcolm Foods and Research Foods, in Ontario and Vancouver.

All of the division's manufacturing facilities are located in the United Kingdom and Ireland, including the company's Shillelagh, Ireland pork processing facility, commissioned in 1994, which remains one of Europe's most technologically advanced food processing plants.

The company adopted a rule change in 1996 that allowed Kerry Coop’s interest in Kerry Group to drop below 51 percent to as low as 20 percent without an additional rule change.

Canniffe, Mary, “Kerry Group Annual Profit Surges 18.6% to £51.2m,” Irish Times, March 5, 1997.

_____, “Mega Deals Create £600m Debt,” Irish Times, January 27, 1998.

In 1999 Kerry strengthened its position in snack seasoning by acquiring the German firm Tukania Proca GmbH.

Also in 2000 Kerry sold the North American bakery business it had acquired as part of the purchase of DCA to the Pillsbury Company for a little over $100 million.

The year 2001 proved momentous for Kerry on the leadership front as Brosnan stepped aside from day-today operations at year-end, becoming nonexecutive chairman, while Hugh Friel took over as chief executive.

Another important development in 2002 was the creation of a new flavor division called Mastertaste, which served to provide a higher profile for this portion of Kerry’s ingredients business.

Friel accelerated the pace of acquisition in 2004, spending EUR 711.7 million on deals that year, more than half of which was used for just one purchase.

O’Mahony, Brian, “Kerry to Remain Cautious on Acquisitions,” Irish Examiner (Cork), August 31, 2005.

In illustration, in August 2006 the company pursued an acquisition of the European frozen foods business of Unilever, which included the Birds Eye brand, but was outbid by the U.K. private-equity group Permira Advisers LLP.

In September the firm launched a restructuring program through which it intended to sell or close 11 manufacturing sites by the end of 2007.

Opened in 2009, the 250,000 square foot Centre allows customers to work side-by-side with Kerry's teams to develop unique, innovative products that can be delivered quickly and which can differentiate their offerings in the marketplace.

In 2011, Kerry opened its LATAM region Technology & Innovation Centre in San Juan del Rio.

Kerry's Regional Development & Application Centre in South Africa was opened in Durban in May 2014.

The Centre was the first of its kind for Kerry and laid the foundation for other Development & Application Centres and Technology & Innovation Centres across the globe, including the Global Centre in Naas, Ireland, which opened in 2015.