Pilgrim’s Europe has reached an agreement to purchase Walkers Deli & Sausage Company, a UK-based firm, from Samworth Brothers.
In a statement released on August 17, Pilgrim’s Europe, which is part of the larger Pilgrim’s Pride corporation primarily owned by Brazilian meat industry leader JBS, characterized the acquisition as an “important strategic step.”
Additionally, an SEC filing by Pilgrim’s Pride revealed that its subsidiary, Onix Investments UK, had finalized a share purchase agreement for Walkers.
The deal is valued at approximately £141.5 million ($191.4 million), structured on a “debt-free, cash-free basis” and is subject to certain adjustments.
This acquisition builds on the existing collaboration between Pilgrim’s and Walkers, as Pilgrim’s has previously supplied pork products to the company.
Established in 1824, Walkers operates four manufacturing facilities at a single site in Leicester and employs around 1,150 staff members. The company serves UK retailers and is also involved in producing own-label food products.
Walkers’ product range includes sausages, sliced cooked meats, cooked bacon, snacking items, and pâté—offerings that Pilgrim’s considers to be “highly complementary” to its own portfolio.
Pilgrim’s Europe is engaged in the production of own-label as well as branded fresh chicken, pork, and lamb. The company also offers chilled and frozen meals along with snacking options.
With more than 17,000 employees across over 40 locations in the UK, Ireland, France, and the Netherlands, Pilgrim’s is recognized for brands such as Moy Park, Richmond, and Fridge Raiders.
According to the filing, the transaction is anticipated to be completed by September, resulting in Walkers becoming a fully owned subsidiary of Pilgrim’s. However, the deal is still pending approval from the Competition and Markets Authority (CMA) along with necessary employee consultations.
Ivan Siqueira, president of Pilgrim’s Europe, described the acquisition as a “natural strategic fit.” He stated, “By bringing Walkers into Pilgrim’s Europe, we will further strengthen our integrated supply chain, expand our presence in attractive premium pork categories and enhance our ability to serve customers across the UK. We are excited about the opportunities ahead and look forward to welcoming Walkers’ colleagues to the Pilgrim’s family following completion of the transaction.”
Simon Wookey, CEO of Samworth Brothers, expressed that this sale would allow the group to focus investments on “significant growth opportunities” in sectors like food-to-go products, savoury pastries, and ready meals.
Samworth Brothers, a family-owned enterprise, produces both chilled and ambient foods and generates an annual turnover of £1.8 billion, employing over 12,000 individuals across the UK and Ireland.
In related news, last week, 130 employees at Pilgrim’s Europe’s County Fermanagh facility in Northern Ireland voted to initiate a strike over requests for a “cost of living pay increase and an end to the current unequal payment of breaks.”
