13 March 2023
RSM’s mergers and acquisitions (M&A) and private equity (PE) team has advised Smithfield Poultry Limited on its investment from mid-market private equity investor, Endless LLP (Endless) and existing Endless investment, YPM Holdings Limited (YPM).
Smithfield Poultry Limited, through its trading subsidiary Smithfield Murray Limited, is one of Europe's leading suppliers of prepared raw poultry to retail and food service manufacturers. These manufacturers, in turn, supply international, national and regional retailers and food service companies. The business uses cutting-edge processing technology to supply complex, fresh meat products with exceptional service, hygiene and safety standards.
YPM is a supplier of high-quality meat ingredients to producers of ready meals, canned goods, savoury pasties and pies, and the direct-to-consumer subscription box meal market.
Bringing the two businesses together has created a combined group with revenues of £115m and offers significant opportunity to service demand for flexible multi-protein supply with exceptional product quality and integrity.
The RSM team used their experience of the private equity market to negotiate a deal that worked for the shareholders. Using their extensive knowledge of the food and drink sector they were able to provide hands on support during the due diligence process at a time of volatile market inflation and prices. The team subsequently project managed the transaction to a successful and timely completion.
Transaction team: Nick Wyatt, Davin Kandola and Joe Stiles.
‘We knew that in order to perfectly balance the outcome for the future of the business and our colleagues with maximising our return as shareholders, we had to team up with like-minded advisors who in turn would be respected by the purchasers. Nick, Davin and Joe perfectly fitted the criteria. Throughout the process, we were guided, advised and counselled. This focused, professional, personable and pragmatic approach brought about a very successful sale.’
Damien Murray, Founder