Float for Eight Fifty Food Group expected to take place next year.
Sky News reports that Young’s Seafood owner Eight Fifty Food Group is close to appointing investment bankers JP Morgan and Jefferies to work on an initial public offering.
A formal decision to proceed with a flotation has yet to be made, wrote the publication.
“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,” reported Sky.
Eight Fifty Food Group, which has sales of GBP 1.2 billion, was created through Karro’s acquisition of Young’s Seafood 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, CapVest bought Youngs back off Lion Capital, Bain Capital and HPS Investment Partners to whom they sold it to over ten years ago.