Vision's Pork Farms buys Kerry's pastry unit

The deal sees Pork Farms picking up Kerry's manufacturing sites in Poole, Dorset, and Spalding, Lincolnshire. Following the transaction, the division will form a new company trading under the Pork Farms brand.

Previous investment
Direct secondary firm Vision acquired Pork Farms in December 2006 through its purchase of a portfolio of four businesses in the speciality bread, chilled pastry, cake and flour milling sectors from Northern Foods for £160m, according to unquote" data.

Company
Kerry's pastry division is made up of manufacturing sites in Poole and Spalding, as well as warehouse and back office support functions at those sites. Kerry Foods manufactures private label products predominantly for UK supermarkets, including Tesco, Sainsbury's, Asda, Morrisons and Lidl.

Pork Farms supplies savoury pastry products to UK supermarkets. Its main products are pork pies, quiches and sausage rolls. The company is headquartered in Nottingham.

People
Pork Farms is led by CEO Chris Peters and chairman Gareth Voyle. Julian Mash is founder and CEO of Vision, while partner at the GP Andrew Rich led the deal.

Advisers
Equity - McQueen (Corporate finance); MacFarlanes (Legal).
Vendor - Blake Morgan (Legal).

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• Topics
• Portfolio management
• UK / Ireland
• Consumer
• Vision Capital
• United Kingdom