Kerry, the global food ingredients, flavors and consumer foods group, announced a major expansion of its chilled ready meals business in the U.K. through the acquisition of Noon Group Ltd.
Noon is among the market leaders in the development and production of authentic Asian chilled ready meals in the United Kingdom. Operating from three modern production facilities located in the Great Western Industrial Estate in southwest London, the acquired business produces a range of premium-quality Indian, Oriental, Thai and other Asian and international cuisine ready meals, snacks and accompaniments, principally for major U.K. multiple retailers. The total consideration for the acquisition is 124 million pounds ($223 million) financed through existing lines of credit with group banks.