CAPVEST ACQUIRES YOUNG’S SEAFOOD

CapVest acquires Young’s Seafood. Fish processing giant Young’s Seafood, with a staff of more than 2,000 people, has been acquired by Karro Food Group, a UK pork processor owned by CapVest, the London-based private equity company.

Karro Food Group was acquired by CapVest in 2017, and CapVest previously owned Young’s before selling it in 2008.

The new, enlarged group will have sales of about £1.2 billion (€1.34 billion) and employ more than 5,000 staff across Britain and Ireland. The value of the deal was not disclosed.

The link-up has created what is described as a “multi-protein food group with significant potential for further growth”.

Karro and Young’s will operate as two separate businesses within the enlarged group.

Di Walker, current executive chair of Karro, has been appointed chief executive of the enlarged entity.

He said: “We are very excited about the opportunity to create an ambitious multi-protein food business of considerable scale. Young’s and Karro are highly complementary businesses and the combined platform will have strong market positions in two important protein categories that are experiencing consistent long-term growth.

“This agreement will provide both businesses with the opportunity to further develop and broaden our relationships with our key partners.”

Established in 1999, CapVest is a leading mid-market private equity firm. The Firm’s investment strategy is focused on identifying and managing investments in companies supplying essential goods and services. A patient investor, CapVest has established a strong record of success in delivering attractive returns by transforming the size and scale of its portfolio companies through a combination of organic and acquisition led growth.

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