11 March 2019
Boparan Holdings Limited, the parent company for 2 Sisters Food Group, today announces the completion of the sale of its Green Isle Brands and Donegal catch frozen foods business. The transaction further strengthens the 2 Sisters Food Group balance sheet and demonstrates its commitment to its core strategy.
Green Isle Brands Ltd operates from Gurteen (Donegal Catch) and Naas (Green Isle head office) and employs 106 people.
Green Isle Brands Ltd has been bought by a consortium of investors headed by experienced food industry executive Maurice Hickey and including the Ireland Strategic Investment Fund, Ireland’s sovereign wealth fund. Mr Hickey was Chief Executive of Largo Foods (Tayto) for 11 years before stepping down in 2018.
Ranjit Singh, President of Boparan Holdings Limited, said:
“We are pleased to announce the completion of the sale of the Green Isle Brands & Donegal Catch business to a good new home. Maurice Hickey is a highly experienced food CEO and we wish him and the team future success.
“There have been a number of potential buyers for these companies, but as we always make clear, any sale has to be at the right time, with the right buyer, and it had to be a deal that fitted with our long-term strategy.
“This transaction ticks all these boxes, and will help further simplify our business, enabling us to focus on our core and further strengthen our balance sheet.
“With customers and consumers at the heart of everything we do, we will continue to focus on delivering great quality, great value products every day.”