2 Sisters Food Group has reached an agreement to sell its joint venture poultry farming operations to the Boparan Private Office (BPO).
“Moving from a partnership to full ownership model, this is a significant transaction and will establish a fully integrated agricultural supply chain that enhances quality and welfare standards for the sector,” 2 Sisters said in a statement.
This deal means that PD Hook and 2 Sisters Food Group will sell their shares in the Hook2Sisters joint venture to the newly-created 2 Agriculture Holdings Limited, part of the BPO.
2 Agriculture Holdings Limited will also manage the full poultry supply chain from breeding to live transportation into 2 Sisters and Bernard Matthews Foods businesses.
“This is an extremely positive move for the business as it means both 2 Sisters and the BPO will have a fully self-sufficient supply chain into their factories,” 2 Sisters added.
All employees at the affected breeding and rearing farms and hatcheries will be transferred to 2 Agriculture Breeding Limited.
2 Sisters’ parent company is Boparan Holdings Ltd.