Irish meat processor Kepak announced it reached an agreement with Boparan Holdings to acquire the UK business and assets of 2 Sisters Red Meat for an undisclosed sum.
The company stated the acquisition will significantly increase Kepak’s value and scale providing a number of complementary strategic fits.
It claims the move strengthens the Group’s key customer supply chain partnerships and it is both a Brexit and a €/£ hedge for the existing and the new Irish-UK businesses. In addition, Kepak hopes the move will provide a sustainable source of UK raw material for its meat based value added businesses which are located both in Ireland and in the UK and which supply Irish, European, and UK customers.
Under the terms of the agreement, Kepak will assume control of the business with immediate effect.
Full Content: Irish Times
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