CapVest adds pork processor M&M Walshe

FOOD business Eight Fifty Food Group, backed by Seamus Fitzpatrick’s CapVest, has agreed a deal to buy Irish pork processor M&M Walshe Holdings.

The Eight Fifty Food Group was created from the merger of UK-based pork processor Karro and the Youngs Seafood brand.

The group aims to become a major supplier of protein products on a European scale.

It is understood the deal was in train ahead of the Covid-19 outbreak.

The deal for family owned Walshe’s is its first Irish acquisition and will take annual takeover to £1.4bn (€1.6bn).

Speculation earlier this year linked CapVest to a possible deal to buy cooked meats producer Carroll’s Cuisine, though in the end no deal emerged.

The Walshe family have operated M&M Walshe, based in Fethard, Co Tipperary, since its foundation in 1981, and will remain involved with the business following the sale.

The Irish pork processor’s brands include RibWorld, Callan Bacon and Stirchley Bacon, which are sold to the retail and food service markets in Ireland and the UK.

The business includes a specialisation in producing vacuum-packed meat for sous-vide

– a type of in the bag cooking popularised in high-end restaurants and now growing in popularity in the wider food service sector.

M&M Walshe has about 550 employees at operations in Tipperary, Kilkenny and in Redditch in the United Kingdom. It has sales of £100m a year.

The CEO of Eight Fifty Food Group, Di Walker, said the companies had worked together for more than 30 years.

M&M Walshe’s John Walshe (inset right) said: “The interest shown in our business is a great reflection of the quality of our products, our people and our loyal customer base.