FDBusiness.com

Scandi Standard to Acquire Irish Chicken Processor

 Breaking News
  • Ryvita’s New Re-Launch Following a hugely successful year in 2017, healthy snacking favourite Ryvita is kicking off 2018 with not only a brand new campaign but also an exciting re-freshed look in addition a host of new and innovative products. On a mission to help women enjoy positive healthy living every day, Ryvita has teamed up with CRUK and one of the [...]...
  • Campari Group Launches New Super Premium Gin Campari Group has launched its new super-premium Italian gin, O’ndina, in the UK. The UK is the first market to roll out the product, which will later launch globally. With the launch of O’ndina, Campari Group enters the fast-growing Super Premium Gin category, with this Small Batch Italian Gin, crafted in Italy using fresh basil [...]...
  • KITKAT Ruby Arrives in the UK Nestlé UK is introducing a Ruby chocolate version of its iconic four finger KITKAT. Consumers in the UK will be the first in Europe to try a four finger KITKAT made with Ruby chocolate, a fourth chocolate after dark, milk and white. This unique KITKAT offers a new taste experience. The crispy four-finger wafer bar is [...]...
  • A Wee Dram Goes Further Than You Think Thanks to Goplasticpallets.com It’s one of the world’s favourite food exports and it’s important to keep the whisky flowing at all times. As the US writer, Mark Twain said: “Too much of anything is bad, but too much good whisky is barely enough.” That’s why The Edrington Group, the international premium spirits company, approached Goplasticpallets.com when it needed [...]...
  • Vion Names New CEO Vion, the international meat group, has appointed Ronald Lotgerink as its new CEO with effect from 1 September. Ronald Lotgerink is currently the CEO of Zwanenberg Food Group, a leading European producer and exporter of meat products, canned meat, snacks, soups and sauces. Ronald Lotgerink started his career at KPMG. In 1989 he joined Zwanenberg Food [...]...

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

  • April 22, 2018Natural & Organic Products 
  • April 24, 2018Scandinavian Wine Expo
  • April 24, 2018Seafood Processing Global
  • April 24, 2018InterFood Krasnodar
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements