TRALEEE, Ireland & LAKE ZURICH, Ill. -- Kerry Group plc has completed its acquisition of Insight Beverages Inc., said investment banking firm, Farlie Turner & Co., which served as the exclusive financial advisor to the seller.
The companies did not disclose the terms of the transaction.
Kerry is a leading global companies focused on taste and nutrition systems, as well as functional ingredients and actives for the global food, beverage and pharmaceutical markets.
Since 1981, Lake Zurich, Ill.-based Insight Beverages has been one of the nation's leading formulators, manufacturers and distributors of cappuccinos, hot cocoas, frozen cappuccinos, barista products, fruit smoothies, frozen noncarbonated beverages, tea products, premium lemonades and iced coffee into the convenience-store channel as well as other foodservice and retail channels.
"This partnership will enable Insight Beverages to offer our customers a greater depth and breadth of product offerings, strengthened innovation and expanded capabilities, all focused to better serve our customers today and into the future," Sharon Porter, Lake Zurich, Ill.-based Insight Beverages' director of sales and marketing, said when the deal was announced in May.
The company helps customers grow profitable beverage businesses by leveraging its technology and consumer research.
"Together, Insight Beverages and Kerry share an entrepreneurial spirit, value-added product development capability and a commitment to customer service, which should translate into domestic and international growth in specialty beverages for the combined enterprise," said Chuck Fultz, a managing director of Fort Lauderdale, Fla.-based Farlie Turner, who led the transaction.
With global Kerry headquarters in Tralee, Ireland, and Kerry-Americas headquarters in Beloit, Wis., Kerry supplies more than 15,000 food and beverage ingredients and flavor products to customers in more than 140 countries. Kerry has manufacturing facilities in 23 countries and international sales offices in an additional 20 countries.
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