September 6, 2024
UK's Boparan Holdings sells European poultry business
Boparan Holdings Limited (BHL), a UK-based company, confirmed the sale of its European poultry business, 2 Sisters Storteboom, to Boparan Private Office (BPO), Meat + Poultry reported.
Both companies are owned by Ranjit Singh Boparan, the founder of 2 Sisters Food Group, who is often referred to as the "Chicken King" of the UK.
The transaction, valued at over EUR 200 million (US$221 million), was announced in a news release.
2 Sisters Storteboom is a major supplier of chicken products across Europe, operating six processing sites in the Netherlands and three others in Poland.
In a statement, BHL said, "Both BHL and the BPO will benefit as it creates a stronger, more agile group of businesses and provides a platform for an unprecedented level of internal investment."
The company further explained that under BPO's management, the European poultry business will have a "dedicated regional focus on its European markets, unlocking undoubted growth opportunities through a focus on quality, animal welfare and sustainability."
In addition, 2 Sisters Food Group noted that the deal strengthens BHL's balance sheet and will reduce its debt levels to the lowest point in over a decade.
The 2 Sisters Storteboom business currently employs approximately 2,700 workers across its processing sites.
- Meat + Poultry