Disposal of Karro Food Group Limited to CapVest

DATE
April 2017

TRANSACTION TYPE
Private Equity Sale

VALUE
£ Undisclosed

SECTOR
Food & Beverage

Spayne Lindsay & Co. is delighted to announce the sale of Karro Food Group Limited to CapVest.

Spayne Lindsay is delighted to announce that it has advised on the sale of Karro Food Group (“Karro” or the “Business”), the leading supplier of British pork to the retail, trade and foodservice industries, to CapVest Partners LLP. The deal, which was announced on the 27 March 2017, was subject to the approval of the Competition and Consumer Protection Commission in Ireland and this was received on the 24 April 2017.

The Business was heavily loss making when Endless acquired it in January 2013 from Dutch food conglomerate Vion. Endless and the Karro management team successfully transformed the group into a highly profitable, well-respected and leading player in the domestic and international pork market. Spayne Lindsay is proud to have been involved with advising the Business from the time of the acquisition until its exit. Karro has turnover in excess of £550 million, operates from seven sites across England, Scotland and Northern Ireland and now employs over 3,100 people. It has received widespread industry recognition for its outstanding performance in recent years.

Aidan Robson, Partner at Endless, commented:

“Karro is a fantastic turnaround story for Endless and the talented management team. It has been a remarkable four-year journey and Karro is a business that we are immensely proud of. Spayne Lindsay provided tremendous support. They were alongside us from acquisition to sale, contributing to our strategic thinking, bringing deal expertise, sector knowledge, customer and management team insights, and an international network that facilitated discussions across the world. Not only did they add value to the investment but they were straightforward and professional in their approach as well as being enjoyable to work with”.