2 Sisters Food Group and PD Hook have sold their joint venture, Hook2Sisters, to the Boparan Private Office (BPO).
Hook2Sisters, which was founded in 2006 with a 50% ownership split between 2 Sisters Food Group and PD Hook, has been wholly acquired by the vehicle of ‘Chicken King’ Ranjit Singh Boparan. 2 Sisters Food Group is owned by the Boparan family.
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Hook2Sisters operates more than 170 farms in the UK and employs around 1,000 people. In the year to the end of July 2024, the company generated sales of £964.2m ($1.31bn) and a profit before tax of £786,000.
The transaction will see both companies sell their shares in Hook2Sisters to the newly created 2 Agriculture Holdings Ltd, part of the BPO.
All employees at the affected breeding and rearing sites and hatcheries will be transferred to 2 Agriculture Breeding Ltd with no changes to the terms and conditions of their employment, a 2 Sisters statement announcing the deal read.
Mr Boparan described the deal as a “significant transaction” that would “establish a fully integrated agricultural supply chain that enhances quality and welfare standards for the sector”.
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By GlobalDataWhile the value of the deal has not been disclosed, a 2 Sisters Food Group spokesperson said it would be “at least £1m”.
The spokesperson added: “The joint venture didn’t have an ultimate controlling party and Ranjit Singh was very keen on going from a 50/50 partnership to a full ownership model.
“He has control over all those farms and, in addition, even bought some breeding farms and hatcheries from PD Hook. He has full control of the supply chain now.”
