Private equity acquisition to create £115m-turnover meats group
Wed, 29 Mar 2023 | MERGER
Private equity firm Endless has acquired Manchester-based poultry producer Smithfield Murray and plans to merge it with value-added meats supplier Yorkshire Premier Meat (YPM) in a deal that it says will create a £115 million-turnover pre-prepared meats group.
Smithfield Murray’s existing management team and founding shareholders Martin Grady and Damien Murray will continue to lead the company, with the backing of Endless.
Smithfield Murray supplies prepared raw poultry products to manufacturers in the retail and food service sectors across the UK and in Europe. The investment was funded from Endless’ £400 million Fund V and follows its previous investments in brands including Karro, Hovis and Bright Blue Foods.
Endless acquired YPM in March 2022 after backing a management buyout at the South Kirkby-based firm. YPM processes and supplies meat ingredients to producers of savoury pastries, ready meals and canned goods, as well as serving the D2C subscription box meal sector.
Following the acquisition, YPM board group chair and former Karro Food Group CEO Di Walker commented: “We’re delighted to be partnering with Damien, Martin and the team at Smithfield Murray. Despite the challenges being faced in the poultry supply chain at this time, the business has proved itself to offer exceptional levels of service quality, and this investment alongside YPM is transformational for both businesses, with fantastic potential for growth and further follow-on investment.”
Smithfield Murray co-founder and CEO Damien Murray added: “Everyone at Smithfield Murray has worked incredibly hard to create the quality of business we have today, and we’re excited about the job creation opportunities this investment will bring in the future. This also opens up exciting opportunities for growth, working closely with our loyal customers and suppliers.”
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