Eight Fifty Food Group also owns pork processor Karro.
Sky News reports that Eight Fifty Food Group, which owns Young’s Seafood, is in talks with investment bankers about starting preparations for an initial public offering (IPO).
“If it goes ahead, a float is expected to take place next year at the earliest, although people close to the situation cautioned that there was no definitive timetable for a process,” wrote Sky.
Eight Fifty Food Group, which has sales of circa GBP 1.2 billion, was created through Karro’s acquisition of Young’s Seafood Limited in July 2019, as part of a plan to create a multi-protein food business.
Karro Food Group has been owned by London-based private equity firm CapVest since March 2017. Last year after a fierce bidding battle, CapVest bought Youngs back off Lion Capital, Bain Capital and HPS Investment Partners to whom they sold it to over ten years ago.
Eight Fifty Food Group also owns the pork processor Karro Food Group. Chief Executive Officer Di Walker said that the multi-protein food group was named as such because of “there being approximately 850 acres in one square nautical mile and as such represents the unity of land and sea and the two important protein categories that make up our business.”