Kepak Group, a prominent player in the meat industry from Ireland, has taken a significant step by acquiring UK-based Summit Foods, a company recognized for its chilled and frozen convenience products. This strategic move underscores Kepak’s objective to enhance its food business through both organic growth and acquisitions.
The acquisition, although the financial details remain undisclosed, aligns seamlessly with Kepak’s broader strategy to expand its footprint within the competitive landscape of the food and beverage industry. Summit Foods, which generates an annual revenue of £24 million ($30.8 million) and employs around 200 people, is well-established in the UK’s convenience food sector.
According to the terms of the acquisition, Summit Foods will continue its operations from its base in Preston, north-west England, and there will be no immediate changes to its branding or customer services. The existing leadership team will be responsible for a six-month transition period, ensuring a smooth integration into Kepak’s portfolio.
This acquisition is anticipated to fortify Kepak’s standing in the UK’s food-to-go and micro-snacking market, currently valued at £6.8 billion. The integration will allow Kepak to harness its distribution network and market expertise to drive Summit Foods’ growth while exploring synergies in product development and distribution.
Kepak Foods CEO Brian Farrell expressed his enthusiasm, stating, “We are pleased to welcome Summit Foods to the Kepak Group. This acquisition aligns with our growth strategy, developing our presence in the UK convenience and out-of-home food channels.” He further emphasized how Summit Foods’ portfolio of “fresher for longer sandwiches, chilled and frozen meals & snacks” complements Kepak’s existing offerings.
Recently, Kepak also made headlines with an €8 million ($8.5 million) investment into its domestic facility in Kilbeggan. This investment aims to enhance market access, quality, and efficiency, forming part of a larger €28 million initiative across Irish sites, which positions Kilbeggan as a central hub for exporting Irish meat.
Kepak’s investment strategy has the support of the Irish government’s Capital Investment Scheme, facilitated by Enterprise Ireland. It intends to boost production efficiency while minimizing environmental impact. Simon Walker, CEO of Kepak, remarked on the investment, emphasizing, “By enhancing our facilities, we are ensuring market diversification, export growth, and long-term business development for Kepak.”
As the food and drink business continues to evolve, Kepak’s acquisitions and investments signify a proactive approach to adapting to consumer trends and enhancing its competitive edge in the food and beverage industry.
