FDBusiness.com

Boparan Holdings, the parent company for 2 Sisters Food Group, has completed the sale of its Green Isle Brands and Donegal catch frozen foods business in Ireland. The transaction further strengthens the 2 Sisters Food Group balance sheet and demonstrates its commitment to its core strategy.

Green Isle Brands operates from Gurteen (Donegal Catch) and Naas (Green Isle head office) and employs 106 people.

Green Isle Brands has been bought by a consortium of investors headed by experienced food industry executive Maurice Hickey and including the Ireland Strategic Investment Fund, Ireland’s sovereign wealth fund. Maurice Hickey was chief executive of Largo Foods (Tayto) for 11 years before stepping down in 2018.

Ranjit Singh, president of Boparan Holdings, says: “There have been a number of potential buyers for these companies, but as we always make clear, any sale has to be at the right time, with the right buyer, and it had to be a deal that fitted with our long-term strategy. This transaction ticks all these boxes, and will help further simplify our business, enabling us to focus on our core and further strengthen our balance sheet.”

He adds: “With customers and consumers at the heart of everything we do, we will continue to focus on delivering great quality, great value products every day.”

Maurice Hickey comments: “We are very excited about the opportunity presented by the Green Isle Foods business. It comprises quality brands with excellent market positions and offers a strong platform for growth. The investor group comprises highly experienced business people and investors who have a strong appetite and commitment to the growth and development of Irish businesses.”