CapVest to acquire Karro Food Group from Endless LLP
CapVest Partners LLP has announced the proposed acquisition of Karro Food Group, which previously belonged to Endless LLP.
Karro Food Group is a leading supplier of British pork to the retail, trade and foodservice industries.
Karro Food Group’s Malton site.
The deal is subject to normal closing conditions and approval from the Competition and Consumer Protection Commission (CCPC) in Ireland.
Following the acquisition from VION Food Group in 2013, Endless LLP and the Karro Food Group have successfully transformed the group into a profitable, dynamic player in the domestic and international pork market.
The acquisition deal will see the Karro management team, including executive chair Di Walker, remain with the business.
Managing director of CapVest, Jason Rodrigues, 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.”
CapVest was advised by Investec Corporate Finance (Ireland) (corporate finance), Kirkland & Ellis (legal), KPMG (financial and tax due diligence) and EY (debt advisory). Debt financing was provided by Pemberton and Lloyds Bank.
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