2 Sisters poised to buy troubled Irish poultry processor
Irish poultry processor Cappoquin Poultry is set to be taken over by the 2 Sisters Food Group, one of the UK’s largest poultry processors.
Cappoquin Poultry, which was put into receivership by the British specialist financial house Close Brothers with over debts of around €10m, has been in and out of financial trouble since 2008.
Industry sources suggest that the 2 Sisters Food Group headed by Ranjit Boparan has won the rights to the Co Waterford-based business, which processes around 11 million chickens annually.
Cappoquin Poultry, which was set up by the O'Connor family some 90 years ago, employed as many as 120 people at one time and is one of the few major employers in the west Waterford region.
If the deal goes through this will not be Boparan’s first foray into the Irish market, having already bought the Green Isle brand there and taken over Northern Foods.
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