Kepak announces plans for another acquisition
Published 01/12/2016 | 10:57
A joint venture company, formed by Kepak Group and Oliver Carty, has agreed terms to acquire a majority shareholding in Greene Farm Foods, Ballygarvey, Rathowen, Co. Westmeath.
The planned acquisition is subject to normal due diligence and the statutory approval of the Competition and Consumer Protection Commission. The move comes just week's after Kepak announced plans to acquire John Kelly Meats in Clare.
Greene Farm Foods processes and markets a range of high quality cooked convenience meats into the retail and foodservice distribution channels, predominantly in Ireland.
Oliver Carty processes and markets a wide and varied range of pork and bacon products also predominantly into the Irish retail and foodservice distribution channels.
Kepak Group is a significant primary and added value processor of Irish beef, lamb and pork; it also has a significant portfolio of own brand and branded convenience foods. It has an EU and international sales reach to a diverse range of retail and foodservice customers.
Mr John Horgan, Kepak Group MD said "This joint venture collaboration and investment by Kepak Group and Oliver Carty in Greene Farm Foods will unlock significant commercial and operational synergies for all the shareholders and for the supply chain stakeholders. Kepak looks forward to collaborating with Oliver Carty to develop win-win outcomes for all parties."
Mr. Ted Carty, MD, Oliver Carty, said he was excited by the joint venture partnership opportunities presented by this planned investment in Greene Farm Foods. “It represents a logical strategic development for Oliver Carty; our heritage is in consumer focused innovation for our customers. This investment, with our partner Kepak Group, will enable us to accelerate the launch of new product ranges.
Mr Ken Greene, MD, Greene Farm Foods said “I am excited by the new horizons afforded by this Kepak-Oliver Carty investment in Greene Farm Foods. We will continue to be specialist producers of premium sliced cooked meats, and in particular we will continue to develop the “Greene Farm Brand”. It will also bring a new developmental dynamic to our site.