Boparan Holdings Limited, the parent company for 2 Sisters Food Group, has completed the sale of its red meat business, 2 Sisters Red Meat Limited, to Irish based meat producer Kepak Group.
2 Sisters Red Meat has been trading since 2013 and has four facilities in the UK.
This UK business is operated from four key production sites: McIntosh Donald, Portlethen, Scotland; and Three St. Merryn sites: Merthyr, Glamorgan, Wales, and Bodmin and Victoria in Cornwall.
The acquisition is said to significantly increase Kepak’s value and scale providing a number of complementary strategic fits.
The sale offers a sustainable source of UK raw material for Kepak’s meat-based businesses which are located both in Ireland and in the UK and which supply Irish, European and UK customers.
Ranjit Singh, president of Boparan Holdings Limited, said: “We are pleased to announce this transaction of our red meat business.
“We have had approaches over the past four years for our red meat operations, and we have been talking to several interested parties during this period.
“But as we always make clear, any sale has to be at the right time with the right buyer, and it had to be a deal that fitted with our long-term strategy.”
Singh describes the deal as another major step in transforming 2 Sisters and building a better business.
Commenting on the acquisition, John Horgan, managing director, Kepak Group, added: “The acquisition of this red meat business, with its very solid UK retail, foodservice and manufacturing relationships, marks a very significant next step in delivering on our strategy.
“We look forward to working with them to grow our combined Irish and UK businesses and to further develop relationships with existing and new customers.
“In doing so we will collaborate closely with the livestock farmers who have been loyal suppliers to these UK sites for many years.”
Under the terms of the agreement, Kepak will assume control of the business with immediate effect.
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
