Kerry Reports Sales Growth and Ganeden Acquisition
Eurofragrance Hires CFO to Support Global Activity
At the Capital Market Day event in October, Kerry
Group announced the acquisition of Ganeden and
reported on its medium-term growth targets.
A Strong Five Years Ahead
During the event, Kerry Group chief executive Edmond Scanon announced that the group
is expected to deliver in excess of 10% adjusted
earnings per share growth on a constant currency
basis over the next five-year cycle. In terms of trading
profit margin growth, he confirmed that the margin
in the taste and nutrition category is expected to
grow by 40 basis points, and the consumer food
category by 20 basis points.
“This will be delivered through achievement
of above-industry-average volume growth and
continued business margin expansion. We expect
to achieve 3–5% volume growth annually on a
group wide basis, with taste and nutrition targeting
4–6% growth and consumer foods targeting 2–3%
growth,” said Scanlon.
Additionally, the group announced the acquisition
of technology innovation company Ganeden. Based
in Cleveland, Ohio, Ganeden has over 135 patents
for technologies in the supplement, food, beverage,
Ramón López Gil has taken the position of
chief financial officer to help strengthen the
company’s activity internationally in the
financial and legal areas.
As a former financial director of COMSA
Group, Gil has a mission to consolidate
international relations with third parties
and contribute his expertise to acquire
companies in addition to having responsibility for global legal advice.
nutrition and personal care markets and reports a
revenue of approximately $25 million. This comes
after a similar move in 2015 where Kerry Group
“Kerry Group has a unique scalable business model which I am confident can deliver the
continued organic growth of the business across
developed and developing markets as planned.
We are in a strong position to lead the continued
consolidation of our industry benefiting from
the Group’s strong balance sheet, scalable business model and geographic footprint. Return on
average capital employed (ROACE) is the Group’s
key financial return metric, the target for which
remains to achieve a return in excess of 12% per
annum,” said Scanlon.
Gil has a few degrees, including a bachelor’s degree in business
administration and management,
an MBA from ESADE and a CEMS
master’s degree from Haute Etudes
Commerciales (HEC Paris). His skill
set consists of international management, starting up affiliates and
developing markets and alliances.
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