Acquisition deal creates £1.2 billion food business

Tue, 02 Jul 2019 | BUSINESS SALE



Karro Food Group has signed an agreement to acquire Young’s Seafood. The deal will create a food business with more than 5,000 members of staff to its name across its operations in the UK and Ireland.

Owned and backed by private equity firm CapVest since 2017, Karro Food Group’s takeover of Young’s Seafood Ltd will allow the companies to create a combined sales worth £1.2 billion. Young’s was initially put up for sale in April 2018 by its ex-owner Lion/Gem Luxembourg.

The two businesses will continue their operations separately, but under one enlarged parent company which will be head by Karro’s current chief executive, Di Walker.

In a statement, Walker said: “We are very excited about the opportunity to create an ambitious multi-protein food business of considerable scale. Young's and Karro are highly complementary businesses and the combined platform will have strong market positions in two important protein categories that are experiencing consistent long-term growth. Today's agreement will provide both businesses with the opportunity to further develop and broaden our relationships with our key partners.”

Similarly, the chief executive of Young’s, Bill Showalter, commented: “We are delighted to be moving forward with Karro and CapVest and we believe this move will be positive for the fish and seafood industry as a whole. With CapVest's existing understanding of our industry, and as part of a multi-protein food group, we will have the opportunity to inspire more consumers to love fish through our fresh, frozen, own-label and branded products.

“The transaction will build an even stronger foundation from which we can drive growth, providing exceptional quality fish and stand out innovation to countries around the world.”

For more news stories about acquisitions, click here. For all our business for sale listings, click here.


Share this article



Latest Businesses for Sale

Closed Chinese Restaurant
Merseyside, UK Wide

Closed Chinese restaurant in spectacular China Town location. Property available to rent. Semi-retirement sale. Offers invited.

Asking Price: £574,995
Turnover: £364,000

Delicatessen
Lancashire, UK Wide

Lucrative delicatessen in Lancashire. Established since 2010. Very busy location with excellent reputation. Offers invited.

Asking Price: £199,500
Turnover: £342,311

Fish & Chip Shop
Grantham, Lincolnshire, UK Wide

Newly refurbished fish and chip shop for sale in Grantham. Operating from a residential trading location. Established 1998. Accommodation available at an additional cost. Free parking available. Offers invited.

Asking Price: £175,000
Turnover: £312,000


View more businesses for sale

News Search

Latest News

 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

 
16
 
Jul
 

Farsound Aviation sold to AGIC for £115 million | BUSINESS SALE

A supply chain management company operating in the aviation ...

 
15
 
Jul
 

Specialist engineering firm forced to appoint administrators | ADMINISTRATION

Rail contracting company Aspin Group Limited has been forced...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources