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

High Class Restaurant
UK Wide

It is not often that a restaurant of this quality and profitability comes on the market. The location is in the very heart of the city in a desirable position. There is easy access from parking areas and pedestrian areas alike. The cuisine offered is...

Asking Price: £595,000
Turnover: £800,000

LEASEHOLD


Fast Food Franchisor, Consumables Provider & Equipment Manufacturer
UK Wide

The group offered for sale is heavily involved in the fast food restaurant industry, with services including franchising and the manufacture of catering equipment and consumables. Currently works with 25 wholesalers, who further distribute to circa 7...

Asking Price: Offers Invited
Turnover: £3,930,000

LEASEHOLD


Sushi Restaurant
Sheffield, South Yorkshire, Yorkshire and the Humber, UK

The business currently operates under a managed restaurant business model with a strong team in place and little commitment is needed from the owner, this makes it an excellent opportunity for an established operator looking for an additional site, o...

Asking Price: £295,000
Turnover: £700,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
Jan
 

Sample book and shade card manufacturer acquired from administration | BUSINESS SALE

The business and assets of Yorkshire-based display products ...

 
16
 
Jan
 

Northgate and Redde shareholders approve merger | MERGER

The proposed merger of listed companies Northgate and Redde ...

 
15
 
Jan
 

SSE sells retail business to OVO Energy | DIVISION SALE

Power utility SSE has announced it has completed the sale of...

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