Kepak to buy 2 Sisters UK Red Meat business
Kepak Group has signed a deal with Boparan Holdings to acquire the UK business and assets of 2 Sisters Red Meat. The company has not offered any financial details regarding the deal.
The company says that through this new acquisition will strengthen its key customer supply chain partnerships. Kepak says that another important fact is that "it is both a Brexit and a €/£ hedge for the existing and the new Irish-UK businesses."
In addition, 2 Sisters Red Meat represents also a sustainable source of UK raw material for Kepak’s meat-based value-added businesses which are located both in Ireland and in the UK and which supply Irish, European and UK customers.
“Kepak has a clear strategy to grow its meat and food businesses in partnership with key customers and in markets that are complementary to our existing businesses in Ireland and in the UK. 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. It is a great fit for Kepak," John Horgan, Managing Director, Kepak Group, said.
Kepak will assume control of 2 Sisters Red Meat effective immediately based on the terms of the agreement.
The 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, England.
The company said in a statement that these four sites and the associated central support office at Talgarrek House and cold storage facilities at Truro, process and market, mainly in the UK, about 250,000 cattle and more than 1 million lambs annually from more than 13,000 farmers spread from Scotland to Cornwall.
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