Sales of Young’s Seafood to Karro Food Group
On 1 July, our clients, principally Bain Capital, Lion Capital and HPS Investments have reached an agreement for the sale of Young’s Seafood Limited to Karro Food Group, the UK-based pork supply company backed by CapVest.
Established in 1805, Young’s is the leading fish & seafood player in the UK with sales of over £545m in 2018 and the number one market position in both chilled and frozen categories, employing over 2,000 people. Young’s proposition is centred around its iconic 200 year-old Young’s brand, the UK’s most loved seafood brand, as well as its best-in-class product capabilities in own label across the fish & seafood category. With unrivalled sourcing, technical and processing excellence allied to best route to market capabilities, Young’s is the UK’s foremost fish & seafood expert.
The combination with Karro will deliver significant benefits to both organisations, including meaningfully strengthened relationships with major UK retailers with the potential for cross-selling opportunities and synergy opportunities in a number of areas.
Bill Showalter, CEO of Young’s, said: “We are delighted to be moving forward with Karro and CapVest and we believe this move will be positive for the fish and seafood industry as a whole. With CapVest’s existing understanding of our industry, and as part of a multi-protein food group, we will have the opportunity to inspire more consumers to love fish through our fresh, frozen, own-label and branded products. The transaction will build an even stronger foundation from which we can drive growth, providing exceptional quality fish and stand out innovation to countries around the world”.
Stamford Partners acted as financial advisor to Young’s shareholders; principally Bain Capital, Lion Capital and HPS Investments on this transaction.