Sale of Karro Food Group reaches completion

The sale of pork supplier Karro Food Group has been completed by Endless LLP to CapVest Partners LLP.

The deal was first announced on 27 March, and was subject to the approval of the Competition and Consumer Protection Commission in Ireland.

Private equity investor Endless has worked alongside Karro since its acquisition from Vion in 2013. The business has been transformed from a loss-making firm, into a highly profitable and well-respected player in the pork market. Its turnover is now in excess of 550 million, and it has enjoyed four consecutive years of strong profit growth under Endless ownership. The business employs 3,100 people across its seven sites in England, Scotland and Northern Ireland. Karros management team, led by executive chair Di Walker, will remain in place.

Karro is another fantastic turnaround story for Endless, said Aidan Robson, partner at Endless. Over the last four years we have worked with a very talented management team, led by Di Walker, to transform what was a heavily loss-making, non-core division of a European cooperative into one of the leading British pork producers.

During this time we have invested over 45 million in capital improvement projects, focused primarily on locally reared British pork, and produced enough bacon for one billion bacon butties. We wish Di and the management team, along with their new owners, CapVest, all the best for the future. It has been a remarkable four-year journey and Karro is a business that we are immensely proud of at Endless.

Walker praised Endless for its guidance since it took over Karro. Endless has been a great owner and I would like to thank them for all their support and input over the last four years, she said. This has helped us transform and grow Karro into the highly successful business it is today, with a clear strategic role in the supply of British pork. Along with our new owners, CapVest, we have ambitious plans to grow the business further and we are very excited about the scale of the future opportunities.

In the meantime its very much business as usual for our management, employees and customers as we look with confidence to the next phase in our journey.

Endless was advised by corporate finance advisor Spayne Lindsay, led by Paul Satchell, and law firm Walker Morris, led by corporate partner Debbie Jackson. Karros management team were advised by Park Place Corporate Finance and Walker Morris.

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