The company made the announcement today (Tuesday) and Kieran Carolan, CEO of Carroll Cuisine said, “As the largest equity investment fund in the Irish market coupled with extensive experience working with branded food companies both within Ireland and internationally, CCI is the ideal partner to support the future growth of the business."

Carroll Cuisine which, employs 150 people in Tullamore, produces and distributes branded and private label pre-packed sliced cooked meats, deli hams, chilled ready meals and other chilled food products to a range of large grocery retailers and convenience stores across Ireland.

While Jonathan Cosgrave, a Carlyle Director, and John Dolan, a Cardinal Director, will join the board of Carroll Cuisine, the company’s existing management team – CEO Kieran Carolan, COO John Comerford and Finance Director Fiona Delaney – have acquired a shareholding in the business and will continue in their leadership roles.

Carlyle Director Jonathan Cosgrave, said that Carroll Cuisine is a great example of the type of high quality business CCI seeks to invest in – "a proven company driven by a brand with a unique heritage and consumer appeal, and with a track record of growth and innovation. We are excited to partner with the management team and believe that CCI’s investment will help the management team achieve their ambitions.”

Hilliard Lombard, Chief Executive of ARYZTA Europe and Asia Pacific said, “We are pleased to see how Carroll Cuisine flourished under our ownership. Considerable investment in the company over recent years has enabled the brand to expand its presence in existing and new markets, increasing sales in the process. We wish the team continued success.”

Equity for the investment will come from CCI, a €292 million Irish private equity fund focused on growth capital and buyout investment opportunities across Ireland, whose investors include the Ireland Strategic Investment Fund and Enterprise Ireland. The fund has also made investments in the Kildare-based premium chocolate manufacturer Lily O’Brien’s, General Secure Logistics Services (GSLS), an Irish cash management solutions provider, and Payzone, the largest provider of multi-channel consumer payments across Ireland.