M&A Deal Summary

Kerry Acquires Niacet

On June 21, 2021, Kerry acquired chemicals company Niacet from SK Capital Partners for 1.0B USD

Acquisition Highlights
  • This is Kerry’s 1st transaction in the Chemicals sector.
  • This is Kerry’s largest (disclosed) transaction.
  • This is Kerry’s 13th transaction in the United States.
  • This is Kerry’s 2nd transaction in New York.

M&A Deal Summary
Date 2021-06-21
Target Niacet
Sector Chemicals
Buyer(s) Kerry
Sellers(s) SK Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.0B USD
Advisor(s) Credit Suisse Investment Banking
The Valence Group (Financial)
Latham & Watkins (Legal)

Target

Niacet

Niagara Falls, New York, United States
Niacet is a producer of specialty ingredients for food, feed, and pharmaceutical applications and the global leader in propionates and acetates. The Company’s propionates function as preservatives in baked goods and animal feed, while its acetates serve a wide variety of food and pharmaceutical applications. Niacet was established in 1978 and is based in Niagara Falls, New York.

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Buyer(S) 1

Buyer

Kerry

Tralee, Ireland
Category Company
Founded 1972
Sector Food
Employees21,000
Revenue 8.0B EUR (2023)
DESCRIPTION

Kerry together with its subsidiaries, develops, manufactures, and delivers technology based ingredients, flavors, and integrated solutions for the food, beverage, and pharmaceutical industries in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. Kerry was founded in 1972 and is based in Tralee, Ireland.

DEAL STATS #
Overall 18 of 19
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 15 of 16
State (New York) 2 of 2
Country (United States) 13 of 13
Year (2021) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-17 Kerry Consumer Foods - Meats and Meals Business

United Kingdom

Kerry Consumer Foods' Meats and Meals Business is a manufacturer of branded and private label meats, meat snacks, food-to-go, and meat-free products in the UK and Ireland.

Sell €819M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-15 c-LEcta

Leipzig, Germany

c-LEcta is a developer of enzymes and microbial strains for industrial biotech applications in food, feed, pharma, and chemistry; a self-developed technology platform for the development of new enzymes. c-LEcta was founded in 2004 and is based in Leipzig, Germany.

Buy -

Seller(S) 1

SELLER

SK Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 4.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

SK Capital Partners is a private investor in mature and middle-market companies located throughout North America. SK Capital focuses on companies with opportunities for substantial business improvement and strong growth prospects. The Firm looks to invest $100 to $200 million of equity in transactions valued up to $500 million. Prospective businesses typically generate $50 to $500 million in revenues and at least $100 million in EBITDA. Areas of interest include specialty materials, chemicals and healthcare. The Firm will consider a variety of transaction situations, including buyouts, recapitalizations, growth equity financings, and corporate carve-outs. SK Capital Partners was spun out of Arsenal Capital Partners and became independent in 2007. SK Capital Partners is based in New York City.

DEAL STATS #
Overall 7 of 14
Sector (Chemicals) 4 of 9
Type (Add-on Acquisition) 4 of 7
State (New York) 1 of 1
Country (United States) 6 of 9
Year (2021) 2 of 4
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-16 Perimeter Solutions

Clayton, Missouri, United States

Perimeter Solutions is a manufacturer of firefighting chemicals and lubricant additives. The Fire Safety business includes formulation and manufacturing of fire management products along with services and pre-treatment solutions for managing wildland, military, industrial and municipal fires. Perimeter Solutions was established in 2018 and is based in Clayton, Missouri.

Sell $2.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-23 Deltech - Monomers Polymers & European Businesses

Baton Rouge, Louisiana, United States

Deltech's Monomers, Polymers & European Businesses provides the production of high-performance aromatic monomers and specialized crystal polystyrene.

Buy -
Mergr

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