Kerry Group PLC Result of public tender offer for Biosearch Life (5387E)
08 Julio 2021 - 01:00AM
UK Regulatory
TIDMKYGA
RNS Number : 5387E
Kerry Group PLC
08 July 2021
Date: 8 July 2021
LEI: 635400TLVVBNXLFHWC59
KERRY GROUP
Kerry Group plc announces the result of its public tender offer
for Biosearch Life
Kerry Group plc ("Kerry"), the global taste & nutrition
company, hereby announces the successful result of its public
tender offer through its Spanish subsidiary Kerry Iberia Taste
& Nutrition, S.L.U on Biosearch, S.A. ("Biosearch"). Following
expiry of the acceptance period on June 29th, 52,121,923 Biosearch
shares were tendered into the offer, representing 90.33% of the
share capital of Biosearch. The result of the offer was approved by
the Spanish National Securities Markets Commission on July 5th,
2021 and the acquisition of the shares tendered will be settled
today July 8(th) , 2021.
As anticipated in the offer document and given all necessary
conditions are met, Kerry will compulsorily acquire all the
remaining shares of Biosearch which have not yet been tendered. The
compensation paid will be equal to the price of the tender offer,
i.e. EUR2.20 per share. The total consideration for the transaction
is EUR126.9m.
Biosearch is a leading biotechnology company focused on
providing innovative solutions for the pharmaceutical,
nutraceutical and functional food sectors. Based in Granada, Spain,
the company provides an extensive range of probiotics with
leadership in premium probiotics obtained from human breast milk
(Hereditum(R) brand), scientifically backed innovative botanical
extracts (Exxentia(R)) and natural omega-3 (Eupoly-3(R) brand).
Edmond Scanlon, CEO of Kerry, commented: We have significantly
advanced our capabilities in proactive nutrition in recent years.
Biosearch is a strong complement to our portfolio and brings
leading clinical research capabilities and functional food
technologies across multiple life stages and need states. We share
a commitment to advance the science behind healthier food and I
would like to extend a warm welcome to the Biosearch team."
ENDS
About Kerry Group
Kerry is the world's leading taste and nutrition partner for the
food, beverage and pharmaceutical industries. We innovate with our
customers to create great tasting products, with improved nutrition
and functionality, while ensuring better impact for the planet. Our
leading consumer insights, global RD&A team of 1,000+ food
scientists and local manufacturing footprint in 31 countries enable
us to co-create with our customers across over 150 countries. At
Kerry, we are driven to be our customers' most valued partner,
creating a world of sustainable nutrition, and will reach over 2
billion consumers with sustainable nutrition solutions by 2030. For
more information, visit www.kerrygroup.com .
About Biosearch Life
Biosearch Life is a leading biotechnology company providing
innovative solutions worldwide in the pharmaceutical, nutraceutical
and functional food sectors with a workforce of over 150 employees.
Biosearch distributes its products across Europe, Asia and the USA
and had revenue of EUR25.3m in 2020. It provides a wide range of
high-quality products and services which revolve around the concept
of a healthy life with products in three primary areas: probiotics,
botanical extracts, and omega-3 fatty acids.
CONTACT INFORMATION
=============================================
Investor Relations
Marguerite Larkin , Chief Financial
Officer
+353 66 7182292 | investorrelations@kerry.ie
William Lynch , Head of Investor
Relations
+353 66 7182292 | investorrelations@kerry.ie
Media
Catherine Keogh , Chief Corporate
Affairs & Brand Officer
+353 45 930188 | corpaffairs@kerry.com
Website
www.kerrygroup.com
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END
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