31 May 2023

LEI: 635400TLVVBNXLFHWC59

KERRY GROUP

Kerry acquires Proexcar S.A.S.

Kerry Group plc ("Kerry"), the global taste & nutrition company, announces it has acquired 100% of the share capital of Proexcar S.A.S. ("Proexcar") for an initial consideration of US$44m subject to routine closing adjustments, with a potential additional payment of up to US$18m payable in 2025 based on achieving earn-out conditions. Located in Colombia with c. 120 employees, the company has leading natural functional systems technologies, which can deliver clean label solutions into protein applications. This acquisition strengthens Kerry's offering and leadership position within the overall LATAM meat market, while also providing a platform for strategic development within the ANDEAN region.

ENDS

About Kerry

Kerry is a world leading taste and nutrition partner for the food, beverage and pharmaceutical markets. We innovate with our customers to create great tasting products, with improved nutrition and functionality, while ensuring better impact for the planet. Our leading consumer insights, global RD&A team of 1,100+ food scientists and extensive global footprint enable us to solve our customers' complex challenges with differentiated solutions. At Kerry, we are driven to be our customers' most valued partner, creating a world of sustainable nutrition, and to reach over 2 billion consumers with sustainable nutrition solutions by 2030. For more information, visit www.kerry.com.