Tue, 11 Feb 2025 | BUSINESS SALE
Private equity group Endless has sold Karnova Food Group to OSI UK, part of US multinational outfit OSI Group.
Karnova Food Group was created via the acquisition and integration of Yorkshire Premier Meat and Smithfield Murray by Endless in 2022 and 2023 respectively. It brings together specialist producers of high-quality prepared meat and poultry solutions for food manufacture, food service and direct to customer meal kits. It has revenues of over £135 million.
OSI Group is a privately owned global business, headquartered in Aurora, Illinois, with 67 manufacturing facilities, more than 20,000 employees operating out of 16 countries and supplying customers in 77 countries.
Di Walker, Chair of Karnova, said: “Since Endless acquired both Yorkshire Premier Meat and Smithfield Murray, we have delivered significant growth with new and existing customers and focused hard on quality and service. Endless has been instrumental in helping us on this journey and we are very grateful for the true partnership and financial support they have given us. I am absolutely delighted that OSI have decided to acquire Karnova as it is a great strategic fit and they will be a fantastic long-term owner for the business and its employees.”
Katharine Haenelt, MD of OSI UK said: “We are delighted to be welcoming Karnova into the OSI family. We have been hugely impressed with how the business has developed under Endless’ ownership and see significant opportunities for further growth across the combined businesses.”
Endless Investment Director James Warburton said it had not envisaged selling Karnova “this early”, but OSI “made clear their ambitions for the business and they will be a fantastic long-term owner with a market leading reputation”.
Endless was advised on the sale by Paul Satchell of Spayne Lindsay (corporate finance), Giles Chesher of Squire Patton Boggs (legal) with vendor assist provided by Chris Stott of KPMG.
Find out more about the pressure being put on PE firms to do deals
Also see: Global and UK Food & Beverage M&A Insight - members can also access our comprehensive list of the world's leading private equity buyers of food & beverage brands.
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