Irish meat heavyweight Kepak Group has acquired UK-based Summit Foods, a specialist in chilled and frozen convenience products.
It said the move, for an undisclosed sum, is a “strategic” play to expand its food business both “organically and via acquisitions.”
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With an annual revenue of £24m ($30.8m) and a workforce of 200, Summit Foods is an “established player” in the UK convenience food sector, Kepak said.
Under the terms of the agreement, Summit Foods will maintain its base in Preston, in north-west England, without immediate changes to its operations, branding or customer services.
The existing leadership team at Summit will oversee a six-month transition period to ensure a “smooth transition” into Kepak’s portfolio.
The acquisition is expected to “strengthen” Kepak’s presence in the UK’s food-to-go and micro-snacking market, which is currently valued at £6.8bn.
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By GlobalDataKepak said it aims to utilise its distribution network and market expertise to support Summit Foods’ growth and explore “synergies” in product development and distribution.
Kepak Foods CEO Brian Farrell said: “We are pleased to welcome Summit Foods to the Kepak Group. This 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 & snacks complements our existing micro snacking offerings and allows us to deepen our presence across these markets.”
Earlier last month, Kepak invested €8m ($8.5m) in its domestic facility in Kilbeggan to improve “market access, quality, and efficiency.”
This investment, part of a larger €28m investment across Irish sites, aims to establish Kilbeggan as a “central hub” for exporting Irish meat.
The investment was partly funded by the Irish government’s Capital Investment Scheme, managed by Enterprise Ireland, and is expected to enhance production efficiency while minimising environmental impact.
Announcing the investment, Kepak CEO Simon Walker said: “By enhancing our facilities, we are ensuring market diversification, export growth, and long-term business development for Kepak.
“This upgraded site positions us as a key hub for showcasing premium-quality Irish meat on the world stage, while supporting the local economy.”
