Sweden-listed poultry group Scandi Standard has agreed to acquire Glenhaven Foods, an Irish producer of frozen breaded chicken products, for an enterprise value of €127 million. The deal strengthens Scandi Standard's position in value-added and ready-to-eat chicken segments and creates a stronger platform for growth in the UK and Ireland, where its operations are led by Manor Farm. Glenhaven Foods, based in Arklow, County Wicklow, supplies retail, foodservice, and quick-service restaurant customers and employs about 190 people. Scandi Standard plans to finance the takeover through existing credit facilities and a rights issue of approximately Skr408 million, with the purchase comprising a mix of cash and an interest-free debt offering totaling roughly a third of the deal price. The transaction is expected to close in the current third quarter.
Scandi Standard publ ABScandi Standard acquires Glenhaven Foods for €127 million, financed via credit and rights issue, strengthening its value-added chicken segment and UK/Ireland platform.
Glenhaven Foods is acquired by Scandi Standard, providing an exit for its owners.