Pork processor Karro Food Group has been sold to London-based investment firm CapVest for an undisclosed amount.

CapVest will buy the company from private equity firm Endless LLP which will be subject to approval from the Competition and Consumer Protection Commission. Details of the transaction were not disclosed. However, reports last week suggested that the deal could be worth around £180m.

Karro is headquartered in Yorkshire and has a facility in Cookstown, Co Tyrone, which processes around 1.2m pigs per year.

The company employs more than 3,000 staff across seven sites in the UK. Karro was formed in early 2013 when it split from Vion Food Group and has experienced a significant turnaround in financial performance over the past three years. In 2015, Karro had profits of £26.6m and turnover stood at £458m.

The new deal will see the Karro management team, including executive chair Di Walker, remain with the business.