Kerry Group buys Cargill arm

Irish food firm Kerry Group has agreed to buy conglomerate Cargill’s global flavours business for $230m (£150m). The firm, which owns Wall’s sausages and Kerrymaid butter, said the new division employs 700 people and has annual revenues of around $200m. Kerry said the transaction, expected to close by year-end, will give it access to more emerging markets. Cargill Flavor Systems provides food technology services for dairy and beverage companies, and has operations in North America, Brazil, Europe and Asia.