Latvian agri-food group Agrova International has acquired Sunrise Group, a UK-based egg supplier to retail and supermarkets.
Agrova International, the parent business of Nasdaq-listed APF Holdings, has struck the deal for €40m ($46.1m), according to a statement.
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The acquisition “significantly expands Agrova’s operational footprint” and “strengthens its position as a pan-European player in the egg and egg protein industry”.
Sunrise Group – comprising Sunrise Poultry Farms and Sunrise Eggs Holdings – becomes a wholly owned subsidiary of the European poultry group Agrova International.
Founded in the 1960s and headquartered in Sileby, Leicestershire, Sunrise Group also supplies the out-of-home channel and food manufacturers. It generates €38.5m in annual revenues, according to the statement.
The Group’s farms are located across Leicestershire, while its grading and packing facility in Sileby processes more than four million eggs each week.
Riga-based Agrova International is an agri-food investor holding a majority interest in APF Holdings, which is engaged in poultry and egg production.
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By GlobalDataJurijs Adamovičs, founder of Agrova International and APF Holdings, said: “We are delighted to welcome the Sunrise team into the Agrova family – this partnership will further strengthen our position in the European market and drive the next phase of growth.
“Sunrise is a company with strong fundamentals, a production capacity comparable to our infrastructure in Latvia, and a well-established trading network across the UK.
“This transaction will more than double Agrova International’s scale and revenue, giving us access to one of Europe’s most advanced and dynamic food markets.”
The buyout was supported with funding from Accession Capital Partners (ACP), which backs agriculture businesses.
Piotr Sadowski, a partner at ACP, said: “We are honoured to support Agrova International – both in this strategically important expansion in the United Kingdom and by providing growth financing to APF Holdings in Latvia.”
The latest accounts filed with Companies House are listed under Sunrise Poultry Farms. Revenue in the year to 30 June was £33.9m, up from £31.1m in 2024.
Operating profit climbed to £10.9m from £8.8m, while the business registered a net profit of £9.8m versus £7.1m.
