Specialty materials, chemicals and pharma-focused investment house SK Capital Partners has agreed to sell Niacet to food major Kerry Group in a deal worth more than $1bn.
The deal comes four years after SK bought into New York-based Niacet, which produces preservatives for bakery, meat and pharmaceutical items.
The sale is expected to close by the end of the third quarter.
SK managing director Jack Norris said, “SK Capital is privileged to have partnered with Kelly Brannen and the entire Niacet team.
“We are proud and appreciative of Niacet’s accomplishments over the last four years leveraging the strong foundation the Brannen family built over many decades.
“We believe Niacet is well-positioned to continue this growth and flourish under Kerry’s ownership.”
SK more than doubled its funds under management in 2019 by holding a $2.1bn final close for its fifth flagship vehicle.
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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/sk-capital-seals-1bn-plus-sale-of-niacet-to-food-major-kerry-group.html
