10 June 2017
BDA advises Kerry Group on food ingredients acquisition in China
Acquired Chinese food ingredients company, Tianning Flavours
BDA Partners (“BDA”) is pleased to announce that its client, Kerry Group plc of Ireland (“Kerry”), has successfully acquired 100% of Tianning Flavour & Fragrance (Jiangsu) Co., Ltd (“Tianning Flavours”), a leading producer of food ingredients headquartered in Jurong, Jiangsu Province, China. BDA acted as exclusive financial advisor to Kerry from identification of the opportunity through to its execution. The acquisition significantly increases Kerry’s presence in the supply chain serving major food and beverage manufacturers throughout China.
Tianning Flavours is one of China’s premier players in the food ingredients sector. Since its founding in 2005, it has supplied both domestic and international food and beverage customers with a range of innovative and high-quality flavours and fragrances. Tianning Flavours has also established a nationwide sales network, with branch offices in key locations including Shanghai, Guangzhou, Wuhan, Zhengzhou, and Shenyang.
“This transaction is a clear demonstration of BDA’s cross-border buyside advisory capability for sophisticated clients looking to further develop their presence in Asia via acquisition. We wish Kerry all future success as the new owners of Tianning Flavours,” said Mark Webster, Partner and Managing Director of BDA, based in Shanghai.
Terms of the transaction were not disclosed.
Kerry Group plc is a global leader in taste and nutrition, serving the food, beverage and pharmaceutical industries, and a leader in branded and customer branded chilled foods in selected EU markets. Founded in 1972 in Ireland, the company has enjoyed consistent profitable growth as food tastes and lifestyles have evolved around the world. In 2016 Kerry recorded worldwide revenues of over €6 billion. www.kerrygroup.com
About Tianning Flavours
Tianning Flavours was founded in 2005, and is headquartered in Jurong, Jiangsu Province with sales branches across China. It produces a wide range of flavours and fragrances for some of China’s leading food and beverage groups, with applications ranging from dairy to meat to tea-based drinks.
About BDA Partners
BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Dubai, Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul, and Tokyo. BDA formed a partnership with William Blair & Company in 2011. www.bdapartners.com
BDA carries out its US securities business through BDA Advisors Inc, a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. BDA’s UK subsidiary is authorised and regulated by the Financial Conduct Authority. BDA’s HK subsidiary is licensed and regulated by the Securities & Futures Commission.
Agreed to divest a 70% stake to SCPE
Divested Alliance Cosmetics Group to Mandom
Investcorp invested up to $250m in China Everbright New Economy Fund
Divested Leyou to Warburg Pincus
Divested Chinese RTW business to a Hong Kong-based investor
Divested Gourmet Noodle House to GreenTree Inns
Growth capital raise
Divested Harrys of London to Charles Cohen
Merged with Fitness First Asia, led by Navis Capital
Raised growth capital
Divested Happy Socks to Palamon
Divested Theodore Alexander to Creative Home Furniture
Divested Clark's Botanicals to Glansaol
Raised growth capital from Standard Chartered Private Equity
Divested King Koil China to Advent International
Divested CHS Ningbo Protein Foods to Shandong Wonderful
Divested lighting business, Halonix Technologies
Divested Chinese dessert restaurant chain
Sold majority stake in J. Mendel
Sold stake in electronics business to Standard Chartered Private Equity