August 30, 2013

Bolton-based Ranjit Boparan, who heads the "2 Sisters Food Group" is poised to take control of the company which had been put into receivership by the British specialist financial house Close Brothers over debts of around €10 million (US$13 million).

Industry sources have now confirmed that Boparan's 2 Sisters has apparently won the rights to the Co Waterford-based business, which processes around 11 million chickens annually.

Cappoquin Poultry employed as many as 120 people at one time and is one of the few major employers in the west Waterford region. It has long been a key source of employment in the area.

The company was set up by the O'Connor family some 90 years ago, but has been in and out of financial meltdown a number of times since 2008.

Boparan's purchase of the company is his latest foray into the Irish market. Nicknamed the "chicken king" in Britain, he already owns the Green Isle brand here. Two years ago he hijacked a deal for Ireland's Greencore to merge with another firm, Northern Foods, and ultimately took over Northern.