UK-based buy-out house CapVest today (27 March) announced it is set to become the latest private-equity owner of local pork processor Karro Food Group.
CapVest said the acquisition of Karro from UK investment firm Endless, struck for an undisclosed sum, was subject to the approval of competition officials in Ireland. The private-equity firm’s portfolio includes an investment in Valeo Foods, the Ireland-based group.
Jason Rodrigues, the managing director of CapVest, said: “Karro is a great fit with CapVest’s overall investment strategy. The group has established a leading position in the processing and sale of British pork for which we believe the long-term fundamentals are very strong. We are delighted to back a very experienced and capable management team and we look forward to working closely with them in pursuing exciting new organic and acquisition-led growth opportunities.”
The deal will see the Karro management team, including executive chair Di Walker, remain with the business.
Karro was formed in early 2013 when Endless backed a management buy-out of the UK pork assets of Dutch meat processor Vion.