Kerry Group plc (ISE:KRZ) reached an agreement to acquire Niacet Corporation from SK Capital Partners, Kelly Brannen and others for $1 billion on June 20, 2021. The consideration is on a cash-free, debt-free basis, subject to customary closing adjustments. The transaction will be funded via a combination of existing liquidity and a dedicated bridge facility. Following the acquisition, Niacet will be integrated into Kerry's global food protection and preservation platform. The Niacet team will be joining Kerry Group as part of the transaction. The transaction is subject to customary closing conditions and regulatory approvals. The transaction is expected to close by the end of the third quarter of 2021. The transaction will be growth and margin enhancing to Kerry and is expected to be accretive to adjusted earnings per share in year one. The Valence Group acted as financial advisor to Niacet, and Nicholas P. Luongo and Jeffrey R. Chenard of Latham & Watkins LLP acted as the legal advisors to SK Capital and Niacet. Piper Sandler & Co. acted as financial advisor to SK Capital Partners. BofA Securities, Inc. acted as financial advisor to Kerry. Credit Suisse Group AG (SWX:CSGN) acted as financial advisor to SK Capital Partners and Niacet Corporation. Jan-Berend Möller of Advocatenkantoor Kennedy Van Der Laan acted as legal advisor to Naicet. Kerry Group plc (ISE:KRZ) completed the acquisition of Niacet Corporation from SK Capital Partners, Kelly Brannen and others on September 13, 2021. The final cash consideration is subject to customary completion adjustments and based on an exchange rate of $1.19: €1.