OSI Group to acquire protein ingredients supplier Karnova Food Group

USA – OSI Group LLC, a global food processor, is working toward the acquisition of Karnova Food Group, a company specializing in protein ingredients. 

The deal is being facilitated by private equity firm Endless LLP.

Karnova Food Group was formed after Endless purchased and merged Yorkshire Premier Meat and Smithfield Murry in 2022 and 2023.

James Warburton, investment director at Endless, stated that while they had not initially planned to sell Karnova so soon, OSI Group’s interest and long-term vision for the business made the offer compelling.

OSI Group operates in 17 countries, managing more than 67 facilities and employing 20,000 people worldwide. Its products reach customers in 77 countries.

Katharine Haenlt, managing director of OSI UK, expressed enthusiasm about bringing Karnova into the company, highlighting its growth under Endless and the opportunities for expansion through the merger.

This acquisition comes as the US protein ingredients market is expected to grow in the coming years due to increased demand for protein-rich foods, sports nutrition, and plant-based alternatives.

In 2023, the US protein ingredients market was valued at around $22.8 billion. 

The market is expected to grow to around $42.84 billion by 2034. 

The market is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2034.

OSI expands with Park 100 Foods acquisition

The Karnova deal follows OSI Group’s acquisition of Park 100 Foods in October last year. 

Park 100, a private company based in Tipton, Indiana, focuses on producing kettle-cooked frozen soups, sauces, chili, side dishes, gravies, and macaroni and cheese.

OSI Group stated that the purchase of Park 100 strengthened its sauce-processing capabilities and enabled entry into new market segments.

Park 100 Foods was established in 1976 and initially specialized in manufacturing portioned breaded meats. 

Over the years, it expanded its product line to include a variety of kettle-cooked items.

Dave McDonald, CEO and president of OSI Group, described the acquisition as a strategic move that aligns with OSI’s business model and approach. 

He emphasized the importance of strong relationships in the food industry and praised Park 100 for its commitment to customer service.

Park 100 employs 600 people across its facilities in Tipton, Morristown, and Kokomo, Indiana, as well as Fort Worth, Texas.

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