Irish meat-processing group Kepak has made its first move into the chilled sandwiches and frozen snacks sector with the acquisition of UK group, Summit Foods.
Summit Foods is an established player in the UK’s convenience food sector, turning over about £24 million (€29 million) per year and employing a team of 200 people.
While some of the group’s products are in line with other brands Kepak has within its portfolio, the deal marks the first acquisition the company has made in the chilled sandwiches and frozen micro snacks space.
Kepak, which is based in Co Meath, declined to disclose the financial terms of the deal but said it was part of its plan to further grow its food business organically and via acquisition.
The great Guinness shortage has lessons for Diageo
Ireland has won the corporation tax game for now, but will that last?
Corkman leading €11bn development of Battersea Power Station in London: ‘We’ve created a place to live, work and play’
Elf doors, carriage rides and boat cruises: Christmas in Ireland’s five-star hotels
Kepak is a family-owned meat company. From the establishment of a butcher shop in Dublin in 1966, it has grown significantly and today the group has a turnover of €1.8 billion and employs more than 4,500 people.
Brian Farrell, chief executive of Kepak’s food division, said the acquisition “aligns with our growth strategy, developing our presence in the UK convenience and out-of-home food channels”.
“Summit’s portfolio of fresher-for-longer sandwiches, chilled and frozen meals and snacks complements our existing micro snacking offerings and allows us to deepen our presence across these markets,” he added.
Summit Foods will continue to operate from its current base in Preston, with no immediate changes to its operations, branding, or customer offerings. The group’s leadership team will remain in place for a six-month transition period.
Kepak said it plans to leverage its existing distribution network and market expertise to support future growth for Summit Foods. The acquisition strengthens Kepak’s position in the UK’s growing food-to-go and micro-snacking market, which is valued at £6.8 billion.
Kepak said it “remains focused” on delivering “business as usual” for Summit’s customers and employees, but that the acquisition “provides opportunities for long-term growth”.
For the immediate future, the two companies will work closely to align operations and explore potential synergies, particularly in the areas of product development and distribution.
Kepak operates 13 manufacturing facilities throughout Ireland and Britain with sales offices in Europe, the US and Asia.
The group markets a broad range of fresh and value-added meat products serving the food service and retail market with market leading brands Big Al’s, Rustlers, Celtic Beef and John Stone.
- Sign up for the Business Today newsletter and get the latest business news and commentary in your inbox every weekday morning
- Opt in to Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
