Karro Food Group set for £180m sale
Pork processor Karro Food Group is reportedly set to be purchased by London-based investment firm CapVest for £180m.
Karro was formed in 2012 when it split from Vion Food Group and is currently owned by investment firm Endless LLP.
Karro is headquartered in Malton, Yorkshire, and has a facility in Cookstown which processes around 1.2m pigs per year. The company employs around 3,000 staff across seven sites in the UK.
Butchery chain McGee’s is owned by Karro and is based in Castleblayney, Co Monaghan. It has concession stores within Asda stores across the UK.
Karro has experienced a significant turnaround in financial performance over the past three years. In 2015, Karro had profits (EBITDA) of £26.6m and turnover stood at £458m.
CapVest has previous experience in the food sector having brought together Irish food brands Batchelors and Origin Foods in 2010 under the banner Valeo Foods.
It sold the holding company FoodVest in 2008 for £1.1bn after it was formed by the merger of seafood companies Young’s and Findus AB.