Ranjit Boparan sells European poultry business for £168 million

• EasternEye
• 10 September, 2024

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By: EasternEye

RANJIT Singh Boparan, owner of 2 Sisters Food Group, has sold his European poultry business, Boparan Holdings (BHL), to his private investment vehicle, Boparan Private Office (BPO).

The business, which trades under the name 2 Sisters Storteboom, was previously owned by Boparan’s family-run 2 Sisters Food Group. The sale, valued at over £168 million, was first reported by FoodBev Media.

2 Sisters Storteboom employs over 2,700 workers and operates nine processing plants in the Netherlands and Poland, supplying a range of chicken products. The deal will add 2 Sisters Storteboom to a portfolio that includes brands such as Bernard Matthews, Banham Poultry, and Elkes Biscuits, according to FoodBev Media.

The sale is expected to create new growth opportunities for both BHL and BPO, with the move described as providing a “stronger, more agile” business model that allows for increased internal investment. The deal, which is still subject to approval by Polish anti-trust authorities, is expected to be finalised later this month.

In a statement, 2 Sisters Food Group said the transaction would reduce its net debt to its lowest level in over ten years and strengthen its financial position. The company also emphasised that the deal would mark the beginning of a new investment programme for the group.

Boparan, a prominent figure in the UK food industry, commented, “As well as strengthening BHL, it gives the European poultry business, under the BPO, a dedicated regional focus on its European markets, unlocking undoubted growth opportunities through a focus on quality, animal welfare, and sustainability.”

Boparan also mentioned that the sale would give the business options for refinancing in the coming months when addressing corporate funding.

Known as “Britain’s Chicken King,” Boparan co-founded 2 Sisters Food Group with his wife Baljinder in 1993. The company has grown to become a major player in the UK food industry, providing about a third of the country’s poultry meat.