Bio Based Economy in Flanders: reap the rewards of a growing business
Mb603 Pptfinal(Hopefully)
1. KERRY GROUP NUIM International Business & Business Innovation Mb 603 Group Project Lecturer – Dr Frank Devitt Students –James O’Brien Keiron Fletcher Magdalena Poltorak Monika Mazurek
2. KERRY GROUP Originated : Listowel Co. Kerry Turnover in 2009: Euros 4.4 billion Employees: 20,000 (approx) Made up of three Divisions: Ingredients & Flavours Consumer foods Agri-business Current Markets: EMEA, Americas & Asia-Pacific
4. GROWTH & DEVELOPMENT Methods of growth & innovation: Acquisitions – from the early days Kerry has looked to acquire competitors. Mergers – bringing outside knowledge in house. Diversity within industry – entry into US health food sector. 3000 products certified safe in the US market.
5. GROWTH & DEVELOPMENT Many sub segments and products produced in small volumes creating an economy of scale. Flexibility in adjusting to customers needs and preferences. Increase in R&D from 2% of sales in 2000 to 3.3% in 2009. Adding value: 8.7 billion of the 24.2 billion Irish food market is created from added value / product development.
6. STRENGTHS & WEAKNESSES Investment in emerging markets will result in a dilution of the reliance on European market. Many other food suppliers are customers of Kerry. Vast number of income streams. 62.6% of all revenues are generated from sales within the EU. Recalls from issues such as dioxins in pork, in 2008 this recall cost between 4-5 million Euros per week.