Samworth Brothers has secured a deal to buy 2 Sisters Food Group’s sandwich manufacturing business.
2 Sisters’ owner Boparan Holdings announced that it has agreed the sale of the site, also known as Solway Foods, which employs around 1000 staff, as it continues to transform its operations.
The deal is expected to be completed “in the coming months”, subject to review by the Competition and Markets Authority.
The Manton Wood facility is the latest divestment by Ranjit Singh’s food giant as it seeks to focus on its core poultry business.
It comes three months after the sale of its red meat business to Irish meat producer Kepak Group, for an undisclosed sum. Boparan Holdings has also confirmed plans to close its Five Star Fish subsidiary and Cambuslang poultry plant in Scotland.
The Nottinghamshire site produces a range of private-label chilled sandwiches, wraps and rolls.
Samworth Brothers group chief executive Flor Healy said: “Samworth Brothers already has considerable experience and presence in the growing Food-to-Go sector through our own label operations and our brands.
“This acquisition provides a great extension to these strong Food-to-Go capabilities and gives us another outstanding platform to develop our offer in this area.”
“This transaction is a significant deal and marks another positive step forward in the transformation of our business,” commented Ranjit Singh, president of Boparan Holdings.
“It further strengthens our balance sheet, with a combined total of more than £350m in cash proceeds from the three disposals we have made in the past six months.
“As a group we are following through with our promises and focusing on our key strengths. This deal ensures Manton Wood is sold to a good new home that will enable it to continue to flourish and thrive.
“Any sale we make has to be at the right time, with the right buyer, and it has to be a deal that fits with our long-term strategy. This deal does just that.”
Ronald Kers, CEO of 2 Sisters Food Group, said: “Our transformation is progressing well as we continue to give greater focus on our core, strengthen our management team and improve our operational performance.”