Private equity investment to bring together two major protein supply companies
Private-equity firm Endless has invested in poultry producer Smithfield Murray and will combine the Manchester-based supplier with its other protein business – Yorkshire Premier Meat (YPM).
The deal to bring both protein producers together will create a group with revenues of £115m. Endless, which has bases in Leeds, London and Manchester, has not disclosed the fee for the deal.
Smithfield Murray provides raw poultry to retail and foodservice manufacturers. YPM was acquired by Endless last year and supplies meat to producers of ready meals, canned goods and savoury pies.
Di Walker, group chair of the YPM board, who was previously CEO of Karro Food Group and Eight Fifty Food Group, said: “We’re delighted to be partnering with Damien, Martin and the team at Smithfield Murray.
“Despite the challenges being faced in the poultry supply chain at this time, the business has proved itself to offer exceptional levels of service quality, and this investment alongside YPM is transformational for both businesses, with fantastic potential for growth and further follow-on investment.”
Damien Murray and Martin Grady, founding shareholders and management duo of Smithfield Murray, will stay at the helm of the company.
Murray, CEO of Smithfield Murray, added: “It is fantastic to be joining forces with Endless and the YPM team.
“Everyone at Smithfield Murray has worked incredibly hard to create the quality of business we have today, and we’re excited about the job creation opportunities this investment will bring in the future.
“This also opens up exciting opportunities for growth, working closely with our loyal customers and suppliers.”
Endless has made this latest investment via its £400m Fund V, through which it also acquired KTC Edibles in May 2022.