(RTTNews) – Kerry Group plc (KYGA), Ireland-based food manufacturer, on Tuesday said it completed the acquisition of the Niagara Falls-based private firm Niacet Corp., a preservation technology provider for the food and pharma industry, for 853 million euros in cash, debt-free transaction.
Niacet was bought from the affiliate of funds advised by SK Capital Partners, LP, and other shareholders.
Now, Niacet, also known as Hare Topco, Inc. is expected to be integrated with Kerry’s global food protection and preservation platform, the company said.
Niacet has customers in over 75 countries and key manufacturing sites in Niagara Falls and Tiel of The Netherlands.
For the year ended on December 31, 2021, Niacet is expected to have pro forma annualized revenue of around $220 million and EBITDA of around $66 million, representing an EBITDA margin of approximately 30 percent.