Irish meat producer, Kepak Group has acquired UK based 2 Sisters Red Meat Limited.
Its parent company, Boparan Holdings Limited announced the completion of the sale of its red meat business on Monday.
The company had been in talks with 'several interested parties' over the past four years, it said in a statement.
The deal includes the flagship site in Merthyr Tydfil with its combined beef and lamb processing facilities, a retail packing factory at Victoria in Cornwall, including Talgarrek House, a beef processing site in Bodmin, Cornwall and McIntosh Donald in Portlethen in Scotland and a cold store facility at Truro.
Ranjit Singh Boparan, the president of Boparan Holdings Limited called the deal 'a perfect strategic fit' for Kepak and 'a major step in transforming 2 Sisters'.
"Any sale has to be at the right time with the right buyer, and it had to be a deal that fitted with our long-term strategy”, he added.
Top Level Changes
Since February this year, there have been major changes at managerial level in the company.
In June, Ronald Ker was appointed as the CEO of 2 Sisters Food Group after Ranjit Singh Boparan stepped down as CEO in February 2018, after a 25 year long run at the helm.
Towards the end of June, Craig Tomkinson took on as the new group chief financial officer, replacing Richard Pike.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
