10 June 2017

BDA advises Kerry Group on food ingredients acquisition in China

Acquired Chinese food ingredients company, Tianning Flavours

2017

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.

Deal team

About Kerry

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.

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