Cleveland, OH — Irish food and nutrition giant Kerry Group has acquired Ganeden, the $25 million probiotic innovation company with more than 135 patents.
Kerry CEO Edmond Scanlon delivered the news at an investor gathering this week in Europe. He told investors, according to the Irish Times, that the group expects Ganden to deliver in excess of 10% adjusted earnings per share growth on average per year over the next five years.
Probiotics is a hot category and this acquisition could make it more so. The deal complements the acquisition of Wellmune in late 2015.
Ganeden BC, Ganeden’s patented and shelf-stable probiotic strain, won the first annual IFT FoodTech Summit Innovation Award from the Institute of Food Technologists. An unanimous winner, IFT CEO Christie Tarantino-Dean called Ganeden BC30 a “major advancement in probiotic fortification.” It has been formulated into more than 750 foods, beverages and companion animal products globally.