Karro Food Group is to be acquired by private equity firm CapVest, the company has confirmed. The proposed acquisition will transfer the pork firm from its existing private equity owners Endless, subject to approval from the Competition and Consumer Protection Commission in Ireland.
Details of the transaction are not disclosed but it has been reported CapVest will pay around £180 million.
Following its acquisition from Vion in January 2013, Endless and the Karro management team have successfully transformed the group into a highly profitable, dynamic and well respected player in the domestic and international pork market. The deal will see the Karro management team, including Executive Chair Di Walker, remain with the business.
Jason Rodrigues, Managing Director of CapVest, said: “Karro is a great fit with CapVest’s overall investment strategy. The Group has established a leading position in the processing and sale of British pork for which we believe the long-term fundamentals are very strong.
“We are delighted to back a very experienced and capable management team and we look forward to working closely with them in pursuing exciting new organic and acquisition-led growth opportunities.”
Karro Food Group is a British pork producer with annual turnover of over £500 million. The company supplies fresh pork and cured, cooked and frozen meats to retail, foodservice and manufacturing customers and has a reputation for high welfare standards and high quality pork produce.
Headquartered in Malton, North Yorkshire, Karro employs around 3,100 people across the UK and has divisions in England, Scotland, Northern Ireland and Ireland.