Kepak Group has today (Tuesday, October 29) announced the acquisition of Summit Foods, a UK-based company specialising in chilled and frozen convenience foods.
Summit Foods is “an established player” in the UK’s convenience food sector with annual revenues of £24 million and a team of 200 employees.
In a statement today, Kepak said that the acquisition, is part of the company’s strategic plan to further grow its food business organically and through acquisition.
Summit Foods will continue to operate from its current base in Preston, with no immediate changes to its operations, branding, or customer offerings.
The statement outlined that the leadership team from Summit will remain in place for a six-month transition period to facilitate a smooth transition.
Kepak said that it plans “to leverage its existing distribution network and market expertise to support future growth for Summit Foods”.
In the immediate future, Kepak said that both companies will work closely to align operations and explore potential synergies, particularly in the areas of product development and distribution.
The family-owned business, established in Dublin in 1966, is hopeful that this acquisition will strengthen its position in the UK’s growing food-to-go and micro-snacking market which is valued at some £6.8 billion.
Commenting on the deal, Brian Farrell, chief executive of Kepak Foods, said that 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,” he added.
Kepak has a turnover of €1.75 billion, employs over 4,500 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.
