Canadians invest in European seafood and pork
Photo is illustrative in nature. From open sources.
Funds managed by CapVest Partners LLP, an international private equity firm, have agreed to sell Eight Fifty Food Group to Sofina Foods Inc., a leading Canadian animal protein producer.
CapVest acquired Karro Food Group, a leading UK pork processor, in 2017. The investor and management subsequently acquired the iconic seafood business Young's Seafood in 2019 to create the Eight Fifty Food Group. Eight Fifty later merged five other protein companies from across Europe to create what is today Europe's leading multi-protein specialist.
Sofina Foods is one of the largest food processors in CANADA with a 25 year history of acquisitions and growth, processing protein products for both retail and food service businesses. His brands are staple foods in Canadian households. Sofina Foods currently operates 21 sites with approximately 5,000 employees.
Eight Fifty is a leading supplier of seafood and pork. The Pork Division is one of the largest processors and suppliers in the UK and Ireland. The Seafood division is the largest supplier of chilled and frozen foods in the UK, including the Young's brand, and a major player in the frozen seafood market in Germany and France.
The Group employs about 8,300 people at 23 production sites. The business will remain under Dee Walker's leadership and will complement Sofina Food's existing flagship platform in North America. Eight Fifty, a specialist in various proteins in Europe, will continue to produce sustainable high quality food products.
CapVest builds European multi-protein business
Jason Rodriguez, partner at CapVest, said: "We have built a leading European multi-protein business through a combination of strategic investments in our core assets and complementary acquisitions of national production champions."
The new company will have more than 13,000 employees worldwide at 44 locations and around $6 billion in annual revenue. The deal is subject to regulatory approval.
Read together with it:
- Низкое предложение и устойчивый спрос: в Аргентине растут цены на мясоЦены на говядину снова выросли, что отразилось на полках супермаркетов и в мясных магазинах. За последние две недели розничные цены выросли на 8–12%, а на некоторые популярные отрубы рост превысил 15% по сравнению с октябрем. Тем не менее, продажи остаются высокими: потребители продолжают покупать, принимая новые цены и закрепляя тенденцию, которая повторяется каждый год в конце года, когда спрос ...
- A Call for Détente, an African Strategy, the Village of the Future, and the Lithuanian Scam: A Summary of the President's WeekALEXANDER LUKASHENKO at a meeting on developing cooperation with African countries Alexander Lukashenko at the III MINSK International Conference on Eurasian Security Alexander Lukashenko during a working trip to the Vitebsk region and a visit to the Berezina Biosphere Reserve Alexander Lukashenko at a meeting on developing cooperation with African countries Alexander Lukashenko at the III Minsk I...
- Минфин США снял санкции с Милорада Додика и членов его семьиМилорад Додик Минфин США исключил из санкционного списка лидера правящей в Республике Сербской партии «Союз независимых социал-демократов» Милорада Додика и членов его семьи, следует из сообщения на сайте Управления по контролю за иностранными активами (OFAC). Кроме того, из санкционного списка были исключены его дети — Игорь и Горица. Также санкции были сняты с телеканала «Альтернативна ТВ», кото...
- LUKOIL decided to sell its foreign assets due to sanctions.The company was placed under US sanctions on October 22 , giving it a month to wind down operations. During this period, LUKOIL plans to sell its foreign assets. The company has projects in the Balkans, the Middle East, and parts of the EU and the US.LUKOIL intends to sell its foreign assets following the imposition of sanctions against the company, its press service reported. On October 22, the U...
- The US has exempted Rosneft's German business from sanctions.The US guaranteed that new sanctions would not affect Rosneft's German assets. In 2022, Rosneft's assets in Germany were transferred to the regulator's management. The Russian company considered this an expropriation.The US authorities have provided Germany with written guarantees that Rosneft's German business will be exempt from new US sanctions against RUSSIA, it stated.REUTERS German Economy M...