Kerry acquires Spanish company Pevesa Biotech
The acquisition allows Kerry to expand its organic plant protein capabilities.
Kerry, Naas, Ireland, said it expanded its non-allergenic and organic plant protein capability by acquiring the Spanish company Pevesa Biotech. The acquisition enhances Kerry’s position in the hydrolyzed plant protein space for specialized nutrition and expands the company’s capacity to serve the rapidly growing high-quality organic plant protein market.
According to Kerry, growing consumer interest in natural and plant-based products has been fueling the explosive demand for plant-based foods over the last few years. This trend extends to increased demand for plant protein sources. As consumers reduce their consumption of dairy and soy proteins (for allergy, health, sustainability or animal welfare reasons), rice and pea protein have become two of the fastest-growing plant protein segments globally.
Based in Seville, Spain, Pevesa Biotech offers a range of high-quality plant proteins, including organic pea and rice protein and protein hydrolysates, and is a European leader in non-allergenic plant proteins for infant nutrition. Pevesa also has had a strong corporate focus for many years on developing sustainable solutions to important nutrition, health, biowaste and agricultural challenges, Kerry said.
“Kerry is extremely pleased to bring the global expertise of Pevesa into our leading plant protein portfolio,” said John Reilly, vice president business development proteins, Kerry. “Kerry was attracted to Pevesa because of its expertise, innovation, high-quality manufacturing leadership and patented technology in the non-allergenic plant protein market. This will be a good fit with Kerry’s growing plant protein product portfolio, and Pevesa’s customers will benefit from the synergy between its market-leading technology and Kerry’s protein processing expertise.”