Houlihan Lokey Advises AATCO Food Industries

Houlihan Lokey is pleased to announce that AATCO Food Industries, a leading wet condiment manufacturer in the Middle East, has been acquired by Kerry Group for an undisclosed amount. The transaction closed on 5 December 2018. 

Established in 1993, AATCO Food Industries is a leading provider of culinary sauces to the foodservice channel. The company develops its products under three segments. Food Solutions, serves business-to-business customers with a focus on quick service restaurants, casual dining, and coffee shops. The second segment, Contract Manufacturing, offers private label products to local and international retailers. Lastly, the company produces premium products under the brand Delicio and other sub-brands. AATCO Food Industries is based in Oman with manufacturing plants in Oman, Saudi Arabia, and India.

Kerry Group is a world leader in the global food industry. Their industry-leading portfolio of taste and nutrition foundational technologies and integrated systems deliver unique, innovative solutions to customers across the food, beverage, and pharmaceutical industries. Kerry Foods, the Consumer Foods business of Kerry Group, is one of the leading suppliers of added-value branded and customer branded chilled food products. Kerry Group is listed on the Irish and London Stock Exchanges and operates more than 130 manufacturing facilities across the world. The transaction will ensure further strengthening of Kerry Group's foodservice and developing markets positioning, in line with its strategic growth priorities.

Houlihan Lokey acted as the exclusive financial advisor to AATCO shareholders.