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Kerry Acquires Pevesa

Albion Minerals®

Kerry (Ireland) has announced that it has expanded its non-allergenic and organic plant protein capability by acquiring Pevesa Biotech. The acquisition enhances Kerry’s leadership position in the hydrolyzed plant protein space for specialized nutrition, and expands the company’s capacity to serve the rapidly growing, high-quality, organic plant protein market.

Based in Spain, Pevesa Biotech is a well-established global leader in non-allergenic, non-GMO (genetically modified organism) plant proteins for the infant, general and clinical nutrition markets. The company offers a range of high-quality plant proteins, including organic pea and rice protein and protein hydrolysates, and is a European leader in non-allergenic plant proteins for infant nutrition. Pevesa has also developed a range of organic and standard biofertilizers for fruit, olive and specialist garden growers, and has had a strong corporate focus for many years on developing sustainable solutions to important nutrition, health, biowaste and agricultural challenges.

“Kerry is extremely pleased to bring the global expertise of Pevesa into our leading plant protein portfolio,” said John Reilly, Kerry’s vice president of business development, proteins. “Kerry was attracted to Pevesa because of its expertise, innovation, high-quality manufacturing leadership, and patented technology in the non-allergenic plant protein market. This will be a good fit with Kerry’s growing plant protein product portfolio, and Pevesa’s customers will benefit from the synergy between its market-leading technology and Kerry’s protein processing expertise.”

The growing inclination of consumers toward natural and plant-based products has been fueling the explosive demand for plant-based foods over the last few years. This trend extends to increased demand for plant protein sources. As consumers reduce their consumption of dairy and soya proteins (for allergy, health, sustainability or animal welfare reasons), rice and pea protein have become two of the fastest-growing plant protein segments globally. The global plant proteins ingredient market is projected to grow at 6.6 percent per annum from 2018 to 2023; the organic rice protein market was estimated at $42 million in 2018, while the organic pea protein market was valued at $11 million in 2018.

For more information, visit www.kerry.com or www.pevesa.com.

Albion Minerals®