July 12, 2010

2 Sisters completes Dutch poultry deal

2 Sisters, a subsidiary of Boparan Holdings Limited, has announced that it had purchased the Dutch-based poultry business, the Storteboom Group.

The company had previously announced its intention to buy the Storteboom Group subject to approval by the Works Council and competition authorities. This has now been agreed and signals the further expansion of one of Britain's largest private food businesses into Europe.

The Dutch arm of 2 Sisters, whose management team will remain largely unchanged, has expressed that it is keen to drive the company forward and access new markets.

2 Sisters CEO Ranjit Singh said: "We aspire to increase market share and become the customers' number one choice for quality, safety and value within the European market.

"The acquisition of the Storteboom Group fits with 2 Sisters business strategy and provides an established platform to support expansion into Central Europe."

The integration will commence after the holiday period, Singh said, adding that the purchase of Storteboom will complement the company's existing Dutch business and enable it to grow by producing the best quality products at the lowest cost.

The company has evolved from a small cutting operation to a world-class food manufacturer. The acquisition will take the number of its staff across the group to almost 7,000 and turn 2 Sisters into a GPB1 billion (US$1.5 billion) plus turnover company.