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07 October 2019 / deal

Loyens & Loeff Luxembourg advised Young's Seafood, a UK supplier of fish and seafood products, in the sale of its business to CapVest-backed Karro Food Group

We teamed up with lead counsel Latham & Watkins (UK) to advise Young's Seafood in relation to the sale of its business to CapVest-backed Karro Food Group. The deal has created a British entity with sales of around £1.2 billion and more than 5,000 employees.

seashells in a net

Young's Seafood is a supplier of fish and seafood products in the United Kingdom. The company engages in processing and retailing of frozen and chilled seafood dishes.

Young’s Seafood was initially put up for sale by its former owner Lion/Gem Luxembourg in April 2018. The company has been around since 1805.

Karro Food Group is a leading producer of bacon, gammon, fresh pork, frozen sausage, ham and cooked meats. The company supplies high quality meat products to retail, foodservice and manufacturing customers across the UK.

The union creates what is described as a “multi-protein food group with significant potential for further growth”.

Karro, which turned over £638 million in 2018, and Young’s will operate as two separate businesses within the enlarged group. Both serve major supermarkets as white label suppliers, with the seafood giant having a major branded presence too.

The Loyens & Loeff team was led by Corporate M&A partner Thierry Lohest and Banking & Finance partner Anne-Marie Nicolas, with the support of Alvaro Garrido Mesa (Senior Associate, Banking & Finance), Jordan Kaselow (Associate, Corporate M&A) and Joanna Kobylarz (Associate, Banking & Finance).

More details regarding the deal can be found here and here.