Kerry Group plc is a prominent player in the global food industry and is ranked in the top 10 food additive companies worldwide. The company started in 1972 and is deeply rooted in the Irish cooperative movement of the time. The company’s first 3 shareholders were a government-controlled entity known as Diary Disposal Company, a cooperative of 8 County Kerry dairy farmers, and US-based Erie Casein Company, a minority shareholder.
Within the first few years, Dairy Disposal Company bought the assets of the 8 farmers in return for shares in the company. After several acquisitions and expansions, the company grew into a multi-national food company with a focus on flavors and ingredients. To this day the company remains a closely held issue with farmers controlling more than 11.5% as of 2022. The second largest shareholder is Blackrock with just over 5.0%.
Today, Kerry Group plc is headquartered in Tralee, Ireland (also in County Kerry) and employs more than 26,000 people worldwide. The company manufactures, processes and markets more than 18,000 food products that include a large number of base products and flavoring additives. Kerry Group plc products are produced worldwide and available in 140 countries. The stock is listed on the Irish ISEQ and the London Stock Exchange.
The company made a significant realignment in 2021 following the divestiture of its Consumer meats and meals business to Pilgrim’s Pride. The move allowed it to reorganize into two operating segments: Taste & Nutrition and Dairy Ireland. The Taste & Nutrition segment provides a wide range of naturally derived flavoring and food product ingredients to the food, beverage, and pharmaceutical industries. The Dairy Ireland segment is a vertically integrated and diversified business focused on serving the Irish and UK dairy markets.
Kerry Group plc’s goal is to be its customer’s most trusted partner. To that end, it strives to provide the highest quality ingredients and flavors in a sustainable manner. The company has made a number of commitments that include plastic circularity by 2025 (everything will be reusable or recyclable) and a 55% net reduction in absolute GHG emissions by 2030. The company is also planning to double its addressable market in that time and to have sourced 100% of raw materials from responsible providers.
The company’s products are divided into 9 categories which include Taste Ingredients, Nutritional Ingredients, Functional Ingredients, Food Solutions, Beverage Solutions, Food Service, Pharma & Biotech, Food & Beverage Applications and Animal Applications. The company's revenue topped $9 billion in 2022. The company is also a well-known dividend payer and has paid a regular and growing distribution since it first went public
