Karro Food Group has secured a £74m funding package to “support” its planned UK and international expansion strategy.
Over the last two years, the group has “seen its profitability increase by more than £20m” with the new funding, drawn from GE Capital and RBS Invoice Finance, described by the company as a move which will “increase our financial fire power and inject further momentum into our expansion and acquisition plans both in the UK and internationally”.
“Over the last few years Karro has transformed from an internally operationally focused business to one that is now focused on future growth,” said executive chair, Di Walker. “This will be further evidenced by our latest accounts, to be announced over the coming weeks, which are set to show a significant underlying improvement in the profitability of the business.”
Karro Food Group, major suppliers of British pork into the retail, trade and foodservice industries, has an annual turnover of £533m. Headquartered in Malton, North Yorkshire (pictured above), Karro employs around 3,000 people across the UK and has nine divisions in England, Scotland, Northern Ireland and Ireland.