Ganeden has an extensive library of published studies and more than 135 patents for technologies in the supplement, food, beverage, nutrition and personal care markets
Kerry Group confirmed the acquisition of Ganeden® – a leading technology innovation company focused on patented probiotics and related technologies. Ganeden® based in Cleveland, Ohio, with current year revenue of approximately $25m, has an extensive library of published studies and more than 135 patents for technologies in the supplement, food, beverage, nutrition and personal care markets. Complementing the Group’s acquisition of Wellmune® acquired in late 2015, the acquired Ganeden® technologies will be extended into wider applications across Kerry’s global developed and developing markets.
Addressing investors, Kerry Group Chief Executive Edmond Scanlon states that the Group expects to deliver in excess of 10% adjusted earnings per share growth on a constant currency basis on average per annum over the next five year cycle.
“This will be delivered through achievement of above industry-average volume growth and continued business margin expansion. We expect to achieve 3% to 5% volume growth annually on a Groupwide basis, with Taste & Nutrition targeting 4% to 6% growth and Consumer Foods targeting 2% to 3% growth”.