Kepak Group have completed a deal to acquire UK-based chilled and frozen food specialists Summit Foods.
As an “established player” in the convenience food market, the takeover of Summit Foods is a substantial move for Kepak. Summit Foods have an annual turnover of £24m and boast a team of 200 employees.
In a statement, Kepak said that the takeover, is part of a strategic move to grow organically and through considered acquisition.
Summit Foods will continue to operate from its current base in Preston, with no immediate changes to its operations, branding, or customer offerings.
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The statement highlighted that the leadership team from Summit will remain in place for a six-month transition period to ensure a smooth takeover.
Kepak said that it intends “to leverage its existing distribution network and market expertise to support future growth for Summit Foods”.
Kepak announced that both companies will collaborate closely to streamline their operations and identify potential synergies, in particular throughout product development and distribution.
Founded in Dublin in 1966, the family-owned business aims to enhance its presence in the UK’s ever-growing food-to-go and micro-snacking market, which is valued at approximately £6.8bn.
Brian Farrell, CEO of Kepak Foods, stated the 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 and snacks complements our existing micro snacking offerings and allows us to deepen our presence across these markets.”
Kepak has a turnover of €1.75bn, employs over 4500 people and operates 13 manufacturing facilities across Ireland and the UK, with sales offices in Europe and Asia.
The group markets a broad range of fresh and value-added meat products, serving both the foodservice and retail markets with leading brands such as Rustlers, Big Al’s, and John Stone.
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