Eight Fifty Food Group, the seafood and pork supplier that owns brands such as Carroll's Cuisine of Tullamore and Northern Ireland pork producer Cookstown, has been sold by its private equity firm owner CapVest.
The food firm has been purchased by Canadian based multi-protein producer, Sofina Foods, for an undisclosed fee.
London based CapVest was co-founded in 1999 by Cavan native, Seamus Fitzpatrick.
Four years ago, it bought leading UK pork processor, Karro Food Group, and two years later it purchased the Young’s Seafood business.
This transaction led to the creation of Eight Fifty Group, before five other companies were also added into the company, including Tipperary based M&M Walshe in May of last year and Carroll’s, which was bought in December.
"We began this journey as a UK-only pork supplier doing less than £500 million in sales and after several years of transformational organic and acquisitive progress are now the European multi-protein specialist with over £2 billion in sales," said Di Walker, CEO of Eight Fifty who will remain in charge of that business.
"This transaction and the interest in Eight Fifty is a great reflection on the quality of the business and testament to the work that CapVest and our entire management team have completed."
Sofina Foods, is one of Canada's largest food producers with a 25-year history of acquisitions and growth.
It currently operates 21 different sites and employs approximately 5,000 people.
Eight Fifty has around 8,300 staff and manufactures in 23 locations.
The new combined group will have almost $6bn in revenue each year.
"Sofina Foods is one of Canada’s largest food producers and we have created a solid global foundation for continued growth," said Michael Latifi, Founder and Executive Chairman of Sofina Foods.
"With a history of excellence in food production and processing spanning over 25 years, the strong brands of Eight Fifty Food Group align perfectly with our prominent brands and our shared future vision."