Kepak Group to acquire UK’s 2 Sisters Red Meat business

UK – Kepak Group, one of Europe’s leading food innovators in processing and marketing meat proteins, has reached an agreement with Boparan Holdings, Limited, to acquire the UK business and assets of 2 Sisters Red Meat, for an undisclosed sum.

The company reported that this acquisition will significantly increase Kepak’s value and scale providing a number of complementary strategic fits.

It will strengthen the Group’s key customer supply chain partnerships as it is both a Brexit and a €/£ hedge for the existing and the new Irish-UK businesses.

It is 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.

John Horgan, Managing Director, Kepak Group, said: “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.”

Under the terms of the agreement, Kepak assumes control of the business with immediate effect.

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, England.

Collectively, 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 1million lambs annually from more than 13,000 farmers spread from Scotland to Cornwall.

“The addition of these facilities to Kepak Group significantly increases the value and scale of our business.

We are delighted to welcome all our new colleagues that will transfer with the acquisition,” added John.

“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.”

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