Eight Fifty Food Group, backed by Seamus Fitzpatrick’s Capvest has agreed a deal to buy Irish pork processor M&M Walshe Holdings.
The Eight Fifty Food Group was created from the merger of UK based pork processor Karro and the Youngs Seafood brand. The business aims to be a major supplier of protein products on a European scale.
The deal for family owned Walshe’s is its first Irish acquisition and will take annual takeover to £1.4bn.
Three generations of the Walshe family have operated M&M Walshe, based in Fethard Co. Tipperary, since its foundation in 1981, and will remain involved with the business post-transaction.
M&M Walshe has about 550 employees at operations in Tipperary, Kilkenny and in Redditch in the United Kingdom. It has sales of £100m a year. Its brands include RibWorld, Callan Bacon and Stirchley Bacon, which are sold to the retail and food service markets in Ireland and the UK.
The M&M Walshe business includes a specialisation in producing vacuum packed meat for sous-vide – in the bag – cooking.
The CEO of Eight Fifty Food Group Di Walker said the companies had worked together for over 30 years.
M&M Walshe’s John Walshe said: “The interest shown in our business is a great reflection of the quality of our products, our people and our loyal customer base. We look forward to working with Di Walker and the Eight Fifty team and seeing the business flourish under new ownership”.
CapVest, the owner of Eight Fifty Food. also separately owns Valeo Foods Group, which owns brands like Kelkin, Roma, Jacobs and Odlums.
The deal is subject to conditions including approval from the Irish Competition and Consumer Protection Commission (CCPC).