Kerry, the global ingredients, flavours and consumer foods group, today announced the acquisition of Oregon Chai, Inc. based in Portland, Oregon, USA and Extreme Foods, based in Las Vegas, Nevada, USA. The businesses, which hold leading positions in fast growing niches of the branded beverage foodservice sector in the USA, are being acquired for a total consideration of US$96m.
Oregon Chai is the leading U.S. branded supplier of natural Chai Tea Lattes and Chai Tea Latte mixes, concentrates and ready-to-drink products. Serving specialist foodservice beverage chains, grocery, club and natural food store channels throughout the U.S. and Canada, Oregon Chai is the recognised brand leader in both natural and organic segments of the speciality Chai tea market.
Extreme Foods is a leader in developing and marketing branded ready-to-use ice blended flavoured beverages for the U.S. foodservice industry. Serving independent coffeehouses, national coffeehouse chains and department store in-house cafés, Extreme Foods produces unique ice-blended fruit smoothies and coffee frappés marketed under the JetTea and JetCafe brand names respectively. Available in nine different flavours, JetTea Smoothies are market leading premium quality, pre-packaged, shelf stable, fat-free, fruit based smoothies. JetCafe is the world’s only super-premium all natural ice-blended coffee frappé.
Mr. Hugh Friel, Kerry Group Chief Executive, said: “The acquisition of Oregon Chai and Extreme Foods complement the Group’s acquisitions of Stearns and Lehman and Da Vinci Gourmet in fast growing segments of the U.S. branded beverage foodservice and natural foods sectors. With increasing demand for health-conscious, natural, lifestyle beverages, the addition of market leading brands is a further significant step in building Kerry’s portfolio in the dynamic U.S. foodservice and all natural beverage sectors”.
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