Eight Fifty Food Group buys Carroll Cuisine
Subject to approval from the Competition and Consumer Protection Commission (CCPC), the acquisition is expected to be completed during Q1 2021
12 January 2021 | 0
Carlyle Cardinal Ireland (CCI) has sold Carroll Cuisine to Eight Fifty Food Group, the multi-protein food group owned by CapVest Partners LLP (CapVest), an international private equity investor. The acquisition is expected to be completed during Q1 2021.
Tullamore headquartered Carroll Cuisine produces branded and private-label cooked meats, deli hams, chilled ready meals and other chilled food products to supermarkets and convenience stores throughout Ireland. In 2015 CCI acquired Carroll Cuisine, backing the management team to complete a carve-out of the company from Aryzta AG.
Carroll’s saw turnover increase by 50% in recent years, due to investment in manufacturing capacity, innovation and new product development.
Kieran Carolan, CEO, Carroll Cuisine said: “Our company has gone from strength to strength in the past five years. It has been an exciting journey and we have achieved our ambitious growth targets with the fantastic support of Carlyle Cardinal Ireland. Jonathan Cosgrave and John Dolan strengthened our board and their advice and counsel was very valuable to us. We look forward to continuing to grow our company as part of Eight Fifty Food Group.”
Eight Fifty Food Group’s acquisition of Carroll Cuisine is subject to approval from the Competition and Consumer Protection Commission (CCPC).