Irish pork processor M&M Walshe, which operates Callan Bacon in Kilkenny and Ribworld in Tipperary, has been sold to the Eight Fifty Group, a UK-based private equity firm that owns UK pork processor Karro Food Group.

While no sales figure has been disclosed, it’s understood the business was on the market with a valuation of around €30m.

M&M Walshe is a sizeable business, employing 550 people across three sites and has net assets of €21.6m. It operates two plants here in Ireland; Callan Bacon and Ribworld, while in the UK it owns a business called Stirchley Bacon, which sells bacon into the food service market.

Over the last decade, the business has grown substantially, with turnover rising to €114m for its most recent financial year. However, margins are tight, with operating profits at just over €655,000.

The Eight Fifty Group is backed by CapVest, the London-based private equity firm established by Co Cavan native Seamus Fitzpatrick. As a result of the M&M Walshe acquisition, the Eight Fifty Group’s sales will push close to €1.6bn.