FDBusiness.com

Scandi Standard to Acquire Irish Chicken Processor

 Breaking News
  • Irish Supermarkets Benefit From the Christmas Spirit The latest grocery market share figures from Kantar Worldpanel in Ireland, for the 12 weeks ending 31 December 2017, reveal that shoppers spent an extra €90 million on groceries over the festive period. David Berry, director at Kantar Worldpanel, comments: “Over the Christmas period the average household spent a record €1,532 on groceries – an increase of [...]...
  • Britvic Continues to Put Health at the Heart of its New Sustainable Business Programme Britvic has launched ‘A Healthier Everyday’, its new sustainable business programme which builds on its commitment to: help consumers make healthier choices; support the well-being of communities; and minimise its impact on the planet. The creation of ‘A Healthier Everyday’ follows a review by the company into how it can ensure that its sustainability programme is [...]...
  • Bayn Europe Sets Up Chinese Subsidiary For Sugar Reduction Bayn Europe AB has signed a joint venture agreement with real estate development company HuaHe International Asset Management to introduce sugar reduction to the China market. Both partners agreed on a co-operation model and mutual commitments for the set up of joint venture. Bayn will hold 65% of equity and HuaHe will hold 35%. Further to [...]...
  • Ishida X-ray Flexibility Ensures Premium Product Quality Ishida X-ray inspection technology is helping to maintain the premium quality reputation of one of Russia’s most popular traditional snack brands. The ‘ROSTRAGROEXPORT’ company was founded by Mr Boris Aleksandrov in 1995, who spotted a niche in the Russian food market for a good quality traditional curd snack.  Its ‘B.Y. Aleksandrov’ brand, named after the company’s [...]...
  • ‘Latte Levy’ – Coffee Drinkers Want to Go Green, But Price is a Barrier As the UK Government aims to eliminate avoidable waste with the announcement of its 25-Year Environmental Plan, Mintel research reveals that Britain’s coffee shop drinkers are happy to do their bit for the environment, but not at any cost. 40% of out of home hot drinks consumers wouldn’t mind paying extra for drinks served in 100% [...]...

Scandi Standard to Acquire Irish Chicken Processor

Scandi Standard to Acquire Irish Chicken Processor
June 29
10:05 2017

Sweden-based Scandi Standard, the leading chicken producer in the Nordic region, has agreed to acquire Manor Farm, the largest chicken processor and market leader in the Republic of Ireland, in a deal worth €94 million. Payment will be partly in the form of Scandi Standard shares. There is also an earn-out mechanism. Completion of the transaction will require approval at an Extraordinary General Meeting of Scandi Standard later in the summer.

Manor Farm is one of Ireland’s oldest family businesses, dating back to 1775. The company sources and processes approximately 50% of all fresh chicken sold in the Irish retail market and approximately 25% of all chicken consumed in Ireland. The business focuses on fresh products for the retail market, selling to a diversified customer base. It operates a processing plant at Shercock in County Cavan. Manor Farm had net revenues of €164 million and EBITDA of €13 million in 2016.

Scandi Standard was created in June 2013, by gathering the largest poultry operations in the Nordic region into one collective group. At present, the group has an annual turnover of approximately SEK5.2 billion and almost 1,700 employees.

The dynamics of the Irish poultry processing market are very similar to those in the Nordic region. The market is well consolidated with three domestic players of scale. As in Scandi Standard’s existing markets, there is a strong preference for domestic produce in the retail channel, and the fresh segment is well developed. Importers distribute mainly to food service, butchers and industrial segments. The consumer market in Ireland is similar to the Nordic markets in terms of size, population and GDP.

Leif Bergvall Hansen, chief executive of Scandi Standard, comments: “I am enthusiastic about the deal as Manor Farm satisfies all of our acquisition criteria. The company has profitability in line with our existing operations, is well run and is the clear market leader in chicken in the Irish retail market. With its capable and experienced management team, the business can be run with a high degree of autonomy whilst additional steps, which have been identified, can be taken to capture the benefits of best practice. As many of our risks are country specific, the acquisition is also likely to reduce our earnings volatility through diversification.”

Vincent Carton.

Vincent Carton and Justin Carton, who own 85% of Manor Farm, are the eighth generation of the family in the business. Both will continue to run the company and will become shareholders in Scandi Standard.

Vincent Carton says: “In considering a succession of ownership for our family business, my brother Justin and I have been determined to find a partner who will build on our strong relationships with customers, employees, suppliers and the broader communities in which we operate. Scandi Standard is that partner, with an outstanding health and quality record in chicken processing. They’re also major chicken product innovators. They understand our business and our commitment to our people. We’re the best at what we do, and Scandi Standard is committed to continuing that.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 16, 2018Sival Plant Production Trade Show
  • January 17, 2018Anfas Food Product
  • January 17, 2018Dutch Organic Trade Fair
  • January 19, 2018International Green Week
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements