KERRY INC.
BELOIT, WI

Kerry is a leader in taste and nutrition. Our innovations lead to products people Who we are Kerry is a company rich in heritage. It was during our modest beginnings as a dairy cooperative in Ireland that we developed our unwavering commitment to producing real and wholesome ingredients. Today, we have become a world leader in taste and nutrition for the food and beverage industry. Our relentless drive to innovate and develop new products to meet the changing needs of our customers has led us to create a network of Global Technology & Innovation Centres and Regional Development & Applications Centres. These centres house 800 highly skilled food scientists and nutritionists, and teams of market researchers who provide insights to drive product development. The centres provide unique leading-edge solutions at an unrivalled speed to market, helping to shape the future of food. We are Kerry. Leading to Better in the marketplace. Began as a private dairy company in southwest Ireland before becoming a dairy co-operative in 1974 Kerry s origins date back to 1972 when three shareholders – the state-owned Dairy Disposal Company, a group of eight small farmer co-operatives in Co. Kerry Ireland and the Erie Casein Company Inc. from the US – committed to invest €200,000 to finance a €1m dairy processing facility in Listowel, Co. Kerry. Then known as North Kerry Milk Products Limited (NKMP), the company had a workforce of 40 people and a turnover of €1.3m. The following year, Kerry bought the state-owned Dairy Disposal Company including its interests in NKMP and its creameries. Kerry also acquired six of the eight independent co-ops, which held 42.5% of NKMP. This new private company became a subsidiary of the newly formed Kerry Co-operative Creameries Ltd (Kerry Co-op), which began trading in January 1974. Kerry started out as the smallest of Ireland's six major agricultural co-operatives in 1974, with sales in that year of €29m. From 1974 to 1979, Kerry expanded its milk business. The new co-op acquired the independent Killarney, Limerick and Ballinahina Dairies in 1978, which later became part of Kerry's Dawn Dairies, along with Galway and Moate Dairies. Kerry establishes a presence in the United States and United Kingdom It was clear that if Kerry was to continue to grow and develop, it would need to reduce its reliance on dairy products and diversify into more value-added activities. In 1980, a five-year plan was defined and agreed. Research and development became a priority, overseas offices were opened and the search for suitable acquisitions began. Firstly, Kerry Co-op diversified into the convenience meat products business with the acquisition of the Denny pork and savoury products business in Ireland. Kerry made its first incursion into beef processing on the home market. 1983 was an important year for Kerry Co-op when it decided to establish US and UK headquarters, opening offices in Chicago and in London. The Erie Casein Company's interest in NKMP was acquired, along with its customer base in the US. This allowed Kerry to begin carving a niche into the specialty food ingredient sector. At this stage, Kerry's milk protein was being used in many premium food products, generating far greater value and profit. Accordingly, Kerry advanced its diversification programme and established a foothold in the food ingredients area, while also concentrating on R&D to drive new product development. Kerry Group became the first public company in Ireland to be to be formed from a co-operative. By 1985, Kerry was moving fast with sales of €268m and pre-tax profits of €6.5m. But it was obvious that to fund the future growth and development of the organisation, the corporate structure would have to be changed.  In October 1986, a public offering of shares in Kerry Group plc was made at €0.66 (IR 52 pence) per share. These were listed on the Dublin stock exchange.Consequently, the concept of Kerry Group plc emerged, and Kerry took significant steps towards becoming an Irish multinational. Kerry opened its first overseas food ingredients manufacturing plant in Jackson, Wisconsin in 1987, and the following year acquired Beatreme Food Ingredients, the premier specialty food ingredient supplier in the US market. The acquisition of Beatreme opened up markets for Kerry throughout the world and provided a platform for Kerry’s growth and development into a leading global food ingredients corporation. The European customer base was bolstered with a major expansion in 1998 when Kerry acquired the food ingredients division of Dalgety (DFI) in Europe. With pan-European manufacturing facilities located in the UK, France, Germany, Italy, the Netherlands, Hungary, Poland and Ireland, the DFI acquisition significantly advanced Kerry's position in food coatings, batters, flavours, seasonings and bakery applications to European food processing and foodservice channels. Kerry entered the Latin American market in 1993 with the acquisition of Basic American. The expansion in the region would continue throughout the 1990s with the acquisition of the Star & Arty business and also a factory from Nestle in Tres Coracoes, Brazil in 1998. Kerry strategically advanced its position in Asia Pacific in 1998 with the acquisition of the Mauri and Pinnacle ingredients businesses of Australian food group Burns Philp and Co. Ltd. In line with continuing strong market growth in the Asia Pacific region, Kerry opened new state-of-the-art manufacturing facilities in Johor Bahru, Malaysia in 2001, serving as an important platform for the group's expansion in the dynamic and fast-growing markets of China, Japan, Singapore and Indonesia. Kerry's global acquisition of Quest in 2004 brought with it an extensive product portfolio including hydrolysed proteins, bio-ingredients and emulsifiers. This was the start of our range of specialty functional ingredients and actives delivering customised texture solutions that optimised the overall taste experience for consumers.