Karro gets 74m funding to drive expansion across UK
Karro Food Group, a supplier of British pork to the retail, trade and food service industries, is all set to rev up its UK and international expansion strategies. The brand has secured a £74 million funding package from GE Capital and RBS Invoice Finance. Recently, group revealed £10 million capital investment programme to support its UK and international expansion strategy. The funding package will add further momentum to brand’s further expansion and acquisitions strategies. Over the last two years, brand has increased its profitability by more than £20 million.
Di Walker, Executive Chair, Karro Food Group, said, "The funding package from GE Capital and RBS Invoice Finance will increase our financial fire power and enhance our expansion and acquisition plans both in the UK and internationally. Over the last few years, Karro has transformed from an internally operationally focused business to the one focused on future growth. This will be further evidenced by our latest accounts, to be announced over the coming weeks, which are set to show a significant underlying improvement in the profitability of the business."
Headquartered in Malton, North Yorkshire, Karro Food Group was launched in January 2013. The group began its operations as a privately owned company, following the purchase of Vion Food Group’s UK pork division by private equity company Endless and its existing management team. The group has nine divisions in the UK, Scotland, Northern Ireland and Ireland.