The investment by Singh was understood to be a private deal and the new acquisition will not be part of the 2 Sisters wider group. The financial details of the proposed deal were not disclosed.
Singh’s private office said: “The acquisition is subject to clearance from Competition Authority in Ireland.
“The existing Grove management team and staff will transfer and the business will continue to operate from its current site as part of the Boparan Private office.”
Boparan founded 2 Sisters Food Group in 1993. As well as a major poultry operation, the company also owns Fox’s Biscuits, Goodfella’s Pizzas and Holland’s Pies.
Expansion trail
2 Sisters has long been on the expansion trail, with recent reports of a joint venture deal with Northern Ireland meat producer Dunbia. The two meat firms are understood to be close to reaching a deal focusing on the two manufacturers’ red meat businesses.
However, it is thought that any deal could also face scrutiny from competition authorities.
In January, 2 Sisters acquired the former S&A factory, with the creation of 200 jobs in Derby. The factory shut in 2015 after Asian food supplier S&A Foods went into administration after Asda cancelled its contract for chilled ready meals.
Creation of 200 jobs
In October 2015 the food manufacturer revealed that it was investing £150M into poultry products to provide consumers with more innovative products,
In 2011, it completed a £342M buyout of Northern Foods, followed soon after by the acquisition of Brookes Avana from Premier Foods for £30M.
Grove Farms is one of the largest turkey and poultry suppliers in Ireland.
It was set up by the Cosgrove Brothers in 1972 and was acquired by Kerry Group in 1988. The current owners acquired the business in December 2006 as part of a management buyout.
Grove Farms – at a glance
- Set up by Cosgrove Brothers in 1972
- Kerry Group acquired the business in 1988
- A management buy-out purchased the business in 2006