Kepak set to acquire majority share in pig meat firm
FOOD processing group Kepak is buying a majority shareholding in Cavan pork manufacturers McCarren and Company.
The move secures the jobs of McCarren’s 180 staff.
“Very importantly the future for the business is now put on a more secure footing supporting the entire staff of about 180 people and the livelihoods of all the pig suppliers to McCarrens” said a company spokesperson.
This is Kepak’s first acquisitions in the pig meat sector.
The company said the McCarren business will complement its existing strategy which aims to build child meats sales in Ireland and the EU. Its meat division processes over 300,000 cattle and 1.5 million lambs per year.
Kepak is one of the country’s largest food processors, with annual sales of about €750,000 and 2,000 staff.
Its biggest customers include Burger King. It supplies beef to the restaurant chain’s Irish and British outlets.
The company is clearly targeting a strategy of expansion through acquisitions; earlier this year it bought ABP Group’s Silvercrest manufacturing facility.
The McCarren family, who have run their business for five generations, will remain as minority shareholders in McCarren.
The company, who supplies pork, ham and bacon to Europe, Russia, Asia and Africa, made sales of €40m last year.
The deal must still be approved by the Competition Authority.