IOI Loders Croklaan and Kerry Group have announced that they have reached an agreement to form a joint venture company to manufacture and promote the nutrition lipid Betapol business
IOI Loders Croklaan and Kerry Group are pleased to announce that they have reached an agreement to form a joint venture company to manufacture and promote the nutrition lipid Betapol business.
The parties expect to conclude negotiations during the coming weeks subject to competition approval. The equal share alliance is centred around Betapol, a specialty lipid for infant nutrition.
The new partnership will stimulate co-developments to extend the portfolio for infant nutrition, and expand into other key nutrition markets. Both partners will bring specific advantages and expertise to the joint venture:
IOI Loders Croklaan, the creator of Betapol, and first to introduce OPO-type fats to the market, holds more than 25 years of experience in the quality supply of specialty lipids to the infant nutrition market. IOI Loders Croklaan will continue to manage the supply chain and further build upon its commitment to create a traceable and sustainable supply chain. The company will also manage product manufacture.
Kerry has more than 30 years of experience as a trusted partner to the nutrition market, with dedicated commercial and nutritional science teams delivering a broad portfolio of scientifically based nutritional products for all consumer life stages.
Kerry’s €100 million investment in a new global technology and innovation centre in Ireland will provide a focal point for advancing scientific nutrition research, innovative processing technologies and market leading technology platforms. Within the partnership Kerry will co-develop and market Betapol, fulfilling consumer needs and expanding into new markets.
The newly formed joint venture will be responsible for business development and innovation. Betapol will be integrated into Kerry’s global nutritional ingredients portfolio, backed by unparalleled global applications, marketing and sales support.
Julian Veitch, CEO of IOI Loders Croklaan: 'There are many complementary areas and synergies between our two companies. We are delighted to partner with Kerry on this joint venture initiative. Kerry is renowned for its extensive nutritional and global market capabilities, putting its customers at the centre, and offering world-class infant nutrition innovation and solutions that are founded in science.'
Michael O’Neill, President of Kerry’s Nutrition Division: 'IOI Loders Croklaan has a vertically integrated supply chain and is the world’s most experienced and trusted producer of OPO-type fats. Working together in this strategic partnership will deliver the same high quality ingredients with additional future product enhancement and global support.'
For existing customers it will be business as usual. They will continue to enjoy delivery of the same high quality nutritional lipids and an optimal level of service during the transition period.