Bio-K+ International Inc. completes sale of its business to global taste and nutrition company, Kerry Group, expanding the company globally
MONTREAL, Nov. 4, 2020 /CNW Telbec/ - Bio-K+ International Inc., industry leader in premium probiotics, completed sale of its business to Kerry Group, a global leader in taste & nutrition solutions for the food, beverage and pharmaceutical markets.
This strategic transaction, effective immediately, allows the Bio-K+ brand to expand globally through the Kerry Group. Having also acquired the building and the land in Laval, Kerry will continue to produce Bio-K+ probiotic products in the unique plant, thus making it possible to maintain all current jobs in place while creating future jobs with the growth in sales.
"The Roy-Chevalier family has built over 25 years a company whose mission is to improve the health and quality of life of people through the research, manufacturing and sale of scientifically proven quality probiotic products. Our family is proud of the work accomplished. Isabèle, François-Pierre, Monique and I would like to warmly thank our teams for their commitment as well as our advisory committee for their support. We also salute the healthcare professionals who have been ambassadors of our clinically recognized products." explains Claude Chevalier.
With undisputed notoriety and # 1 in the country for the past 10 years, this transaction allows the company to materialize the next phase of its development with Kerry which has 148 sites on six continents worldwide.
"In founding the company, the dream of my father Claude Chevalier and the family was to offer quality product with unique virtues capable of improving the health and quality of life of people. Our mission for Bio-K+ has always had a global focus. The sale of the business allows our family's mission to be realized in the short term." explains Isabèle Chevalier. "My brother and I grew up in this company, we have developed with it and we devoted ourselves to it, so this decision is emotional for us but we know that it is the right thing to do for the organization. This will allow Bio-K+ to fully soar by making its products we know have a major impact on people's health available worldwide."
"Bio-K+ is an undeniable success both scientifically and commercially and we are very excited to have the opportunity to promote the brand and their high-quality products worldwide" announces John Quilter, Vice President of Global ProActive Health Technology at Kerry. "We are also very proud to be able to continue the expansion of Bio-K+ in Quebec with a great team."
PricewaterhouseCoopers Corporate Finance inc. and Fasken served as financial and legal advisors on the transaction.
About Bio-K+ International Inc.
About Kerry Group
Kerry Group was founded in Ireland in 1972, starting out as a farmer owned dairy co-operative. It is listed on the Dublin & London stock exchange. Kerry is the global leader in the development of taste and nutrition solutions for the food, beverage and pharmaceutical markets. Its broad technology foundation, customer-centric business model, and industry-leading integrated solutions capability make Kerry the co-creation partner of choice. Kerry employs over 26,000 people globally, including over 1,000 food scientists, and its global presence extends across 148 manufacturing facilities in 32 countries.
SOURCE Bio-K+ International Inc.