Kerry Group PLC to acquire Spanish breast milk business
The company is expanding its nutraceutical and functional food business.
Kerry Group PLC (LON:KYGA) told investors it is to acquire Biosearch Life, a Spanish company that sells premium probiotic products made from human breast milk.
Biosearch’s breast milk products are under the Hereditum brand, meanwhile, it also has the Exxentia and Eupoly-3 brands which are botanical extracts and natural omega-3 respectively.
The London-listed company noted that it seeks to acquire all of Biosearch’s shares through a public tender offer.
Grupo Lactalis Iberia, Biosearch’s largest shareholder, has committed irrevocable undertakings to accept the offer for its 29.5% stake.
Read More: Kerry Group PLC to acquire Spanish breast milk business