Endless, the UK private-equity firm, has snapped up local poultry producer Smithfield Murray and will bring the Manchester-based supplier together with its other protein business Yorkshire Premier Meat (YPM).
The deal to bring both protein producers together is set to create a combined group with revenues of £115m ($141.6m), according to the private-equity firm.
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Endless, which has offices based in Leeds, London and Manchester, did not disclose the fee for the deal.
Smithfield Murray is a supplier of raw poultry to retail and foodservice manufacturers. YPM was acquired by Endless last year and supplies meat to producers of ready meals, canned goods and savoury pies.
Di Walker, group chair of the YPM board, who was formerly CEO of Karro Food Group and Eight Fifty Food Group, said: “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.”
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By GlobalDataDamien Murray and Martin Grady, founding shareholders and management duo of Smithfield Murray, will continue at the helm of the business.
“It is fantastic to be joining forces with Endless and the YPM team,” Damien Murray, the CEO of Smithfield Murray said.
“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.”
Endless has made this investment through its £400m Fund V, through which it also bought KTC Edibles in May 2022.
The private-equity firm also UK bakery groups Hovis and Bright Blue Foods. Endless’ previous assets in food include UK pork processor Karro Food Group, which it sold in 2017.
