
CapVest's Karro bolts on TS Bloor & Sons
CapVest-backed meat processing business Karro Food Group has acquired UK-based ham producer TS Bloor & Sons.
Karro expects to strengthen and consolidate its market position in the UK food industry with this strategic acquisition, according to a statement.
Private equity firm CapVest acquired Karro from turnaround player Endless in March 2017, following a period of transformation that saw the business recover from a loss-making position. The deal valued the company at around £180m, according to media reports. CapVest deployed capital from its CapVest Equity Partners III fund, which held its final close in November 2014 on €482m. Lloyds Banking Group and Pemberton Capital Advisers provided a debt package to support the transaction.
Company
Founded in the early 1900's by the Bloor family and based in Coalville, TS Bloor & Sons produces roasted, steamed and simmered hams. The company has recently invested £6.5m in a new production facility located in Leicestershire. TS Bloor & Sons sells around 13,000 hams per week.
People
Karro Food Group – Di Walker (executive chair).
TS Bloor & Sons – Charles Bloor (managing director).
Advisers
Vendor – Spayne Lindsay & Co (corporate finance).
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