PPCF advised the management team of Karro Foods on their secondary MBO backed by CapVest. The transaction allowed the managers to realise a significant proportion of the value they had created since the 2012 Endless-backed MBO from Vion Food Group.
Karro is a c.£500m revenue supplier of pork into the retail, trade and foodservice industries which operates from a number of sites across the UK and Ireland. The company has a reputation for high welfare standards and high quality pork produce. Over the four years since the initial MBO, Karro has transformed from a non-core division of Vion into the leading supplier of British pork.
Di Walker, Group Executive Chair at Karro, commented “PPCF’s dogged determination and considered approach was instrumental in achieving a strong result for management in a one-on-one negotiation with our new funder. Their independence and familiarity with such situations proved vital in addressing wide-ranging issues with experienced counterparties.”
Tim Clarke, who led the advice to management, commented “we are delighted to have represented and protected the interests of the management team on this transaction. It marks a successful exit for Endless whilst also providing a significant opportunity for the management team and CapVest to continue to develop a market leading business.”