2 Sisters Food Group Completes Sale Of Frozen Food Business
2 Sisters Food Group has announced that it has completed the sale of Green Isle Brands and Donegal Catch to a consortium of investors led by Maurice Hickey, the former chief executive of Largo Foods.
The consortium also includes the Ireland Strategic Investment Fund (ISIF), the country's sovereign wealth fund.
Commenting on the sale, president of Boparan Holdings Limited, Ranjit Singh, said, “There have been a number of potential buyers for these companies, but as we always make clear, any sale has to be at the right time, with the right buyer, and it had to be a deal that fitted with our long-term strategy."
The transaction will help the food group to strengthen its balance sheet and focus on its core strategy, the company said.
“With customers and consumers at the heart of everything we do, we will continue to focus on delivering great quality, great value products every day,” Singh added.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.