Pilgrim's Pride - Neighbourhood Retailer

Moy Park and Pilgrim’s Food Masters take to the road together

Linda Stewart — Thu, 22 Sep 2022 10:18:34 +0000

Ireland’s number one chicken brand, Moy Park, will be stocked and distributed across Food Force Ireland stores through its sister company Pilgrim’s Food Masters, part of the Pilgrim’s Pride business.

Elizabeth Adair, Ireland Commercial Manager at Moy Park, explains the benefits of this Partnership: “This is fantastic news for the Moy Park brand. Working in collaboration with the Pilgrim’s Food Masters direct to store team will give us greater shelf presence and increased distribution across Northern Ireland.

“We will launch 17 lines from across the Moy Park branded range, including the new Moy Park Ultimate Garlic Kiev, Buttermilk Burger and Tempura Mini Fillets.”

Oswaldo Quiros, Commercial Director for Pilgrim’s Food Masters, added: “We are really excited about adding the Moy Park brand to our direct to store offering. Distribution of a branded chicken range will really complement the suite of products we already distribute across NI.

“We have fantastic relationships with retailers in Northern Ireland supplying Denny and other well-known brands and this addition will strengthen our offering of leading brands to our customers.”

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Moy Park reports 60% fall in pre-tax profits

Linda Stewart — Mon, 22 Aug 2022 09:14:17 +0000

Pre-tax profits at Northern Ireland poultry giant Moy Park have dropped by 61% to £29.7m as the company battles rising costs for chicken feed and other essentials.

Accounts for Moy Park Holdings (Europe) for 2021 showed a dive in pre-tax profits from £75.8m, despite 6% growth in revenues to nearly £1.6bn.

Moy Park, based in Craigavon, is Northern Ireland’s largest private sector company and one of Europe’s biggest poultry producers.

It sells branded and own-label poultry to retailers and foodservice companies and also manufactures beef and pork products, vegetarian food and desserts.

The company said that its performance had been hit by high cost inflation, which had affected the whole of the poultry industry.

However, it said measures such as cost control, close customer relationships and constant innovation had mitigated some of the challenges.

The strategic report filed alongside the accounts added: “In 2022, the whole poultry food sector experienced unprecedented cost increases in feed, utilities and labour.

“Moy Park’s customer models [and] additional negotiations, together with the recovery of the food service segment, has partially negated some of these costs.”

It explained that a big chunk of the costs were attributable to ingredients used in feed production, the prices of which were affected by global supply and demand, weather patterns and government policy.

But the business said that it monitored feed price closely and took advice from experienced commodity traders. The war in Ukraine has inflated the price of grain used in chicken feed.

Of its £1.58bn in revenue at Moy Park Holdings (Europe), £1.16bn was from sales in the UK in Ireland and £422m from sales in Europe. Its biggest individual customers accounted for revenues of £415m, £229.4m and £266.4m.

The company has sites in Northern Ireland, England, the Netherlands and France. During 2021, the company’s workforce fell slightly, from 10,209 to 9,972. However, the company report said that the wage bill had gone up, from £289m to £300m.

Looking ahead, the company said: “With an experienced management team, a strong product portfolio, a well-invested asset base and a robust financial position, we remain confident in the continued success and development of the business.”

Moy Park is part of US giant Pilgrim’s Pride but is controlled by Brazilian business JBS, which owns 80% of the former.

The accounts said the company had taken measures during the year to improve its sustainability and had received globally recognised certification for soya bean traceability.

It has also placed the single largest order in the UK for natural gas trucks, to help with decarbonisation of its fleet.

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Moy Park to supply 36 Iceland stores across NI

Linda Stewart — Thu, 04 Nov 2021 16:14:08 +0000

Poultry food processor Moy Park has secured a new contract for four of its fresh coated products in Iceland stores across Northern Ireland.

The new lines include Moy Park’s signature garlic and herb chicken kievs and southern fried mini fillets and will be available in in 36 Iceland stores across Northern Ireland.

It comes after the Craigavon-based firm, which is part of global food group Pilgrim’s Pride, secured a deal in July to sell 12 branded products in 27 Iceland stores in the Republic.

This was Moy Park’s first contract to supply British frozen food chain Iceland in the Republic or the UK.

Following the latest deal, Moy Park brand marketing manager Ellen Wright said: “This strengthens our own-label reach and introduces new consumers to our brand, building on our existing relationship with Iceland in the Republic of Ireland, giving us a presence in most stores across the island.

“Despite a challenging business environment, we continue to deliver exceptional growth and these listings significantly bolster our visibility in the marketplace.”

Sarah McDonald, head of buying at Iceland Ireland & Northern Ireland, added: “We’re passionate about supporting local suppliers and this partnership with Moy Park is part of this long-term business focus and strategy.

“We are working with over 100 local suppliers and farmers across the island, and while Iceland is undoubtedly the home of frozen, we also provide customers with a wide variety of fresh locally sourced produce.”

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Kerry completes sale of its Foods Meats and Meals business

Julie Nash — Wed, 29 Sep 2021 08:44:56 +0000

Kerry Group has completed the sale of its Consumer Foods’ Meats and Meals business to Pilgrim’s Pride Corporation for €819m (£704m¹). The sale was first announced on 17 June 2021.

TWO sites in Fermanagh and Monaghan which produce food brands Mattesson and Mr Brains have been sold by Kerry Group to Moy Park owners Pilgrim’s Pride for 819m euros (£700m). Kerry Group’s sites in Enniskillen and Carrickmacross employ around 800 staff, and also produce a range of Chinese, Italian and British ready meal brands.

The group’s site in Portadown is not part of the transaction.

Edmond Scanlon, Chief Executive Officer of Kerry Group said the sale “marks a very significant milestone in Kerry Group’s evolution and I would like to thank all of the 4,500 employees who transition to Pilgrim’s today for their contribution to Kerry over the years and I wish them the very best in the future.”

Pilgrim’s Food Masters

Following the acquisition, Pilgrim’s has announced the introduction of Pilgrim’s Food Masters, the group formed following the completion of its acquisition of Kerry Group plc’s Consumer Foods’ Meats and Meals business first announced in June 2021. Pilgrim’s Food Masters will continue to produce best-in-class convenience food solutions from its industry-leading manufacturing sites in the UK and Ireland.

The new name expresses Pilgrim’s Food Masters’ passion for creating outstanding-tasting food and commitment to world class innovation that meets the needs of changing consumer tastes. Under the Pilgrim’s Food Masters banner, the group will continue to innovate and help retailers unlock new opportunities to drive sales through trusted brands and products.

Nick Robinson, CEO, Pilgrim’s Food Masters, will continue to lead the group’s 4,500 team members across the UK and Ireland and will seek to accelerate the current growth trajectory. Pilgrim’s Food Masters will remain headquartered in the UK with team members across 11 sites including facilities in the UK and Ireland, and an extensive distribution network in both countries.

Nick Robinson said: “This is the start of an exciting new chapter in our history as we join the Pilgrim’s family and we’re feeling confident and ambitious about what the future holds.

Strong foundations

“We have a strong track record in delivering growth and as Pilgrim’s Food Masters we have the foundations of an already highly successful business. As one of the UK and Ireland’s leading food business, we remain committed to the communities and customers that we serve.

“I’d like to thank our valued customers, suppliers and partners for their ongoing support and trust in our business. As Pilgrim’s Food Masters, we will uphold our unwavering commitment to quality, service and value, and making a positive impact on the environment.”

Fabio Sandri, CEO, Pilgrim’s added: “We’re delighted to welcome new colleagues into the Pilgrim’s family who share our values and are passionate about sustainable growth. With a united vision to be the best and most respected company in our industry, we look forward to unleashing the expertise of the Pilgrim’s Food Masters team as they continue to innovate and create value in this exciting growth sector.”

Pilgrim’s employs approximately 59,200 people and operates protein processing plants and prepared-foods facilities in 14 US states, Puerto Rico, Mexico, the UK and continental Europe. The Company’s primary distribution is through retailers and foodservice distributors.

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Kerry PLC sells meats and meals business to Pilgrim’s Pride – also acquires Niacet

Julie Nash — Mon, 21 Jun 2021 10:21:49 +0000

Kerry Group PLC is selling its consumer meats and meals business in the UK and Ireland to Pilgrim’s Pride Corp for 819 million euros ($975.1 million), according to a report in MarketWatch.

The Ireland-based food company, with brands including Dairygold butter, Charleville cheese and Richmond sausages, said it will use the money raised from the sale for general corporate purposes and the continued strategic development of the taste-and-nutrition business.

Kerry plans to “separate and realign” the remaining dairy-related activities within the consumer foods business. It said the review of the dairy business, which started in February, is now complete, and there will be no further disposals at this time.

The deal is expected to close in the final quarter of this year, the company said.

A few days later the Irish Times reported that Kerry had announced the acquisition of Hare Topco, trading as Niacet, for €853 million on a cash-free, debt-free basis.

The company announced details of the deal with an affiliate of funds advised by SK Capital Partners and other shareholders on June 21st.

Niacet is a global market leader in technologies for preservation. Kerry Group said it has “clear leadership positions” in bakery and pharma, and cost-effective low-sodium preservation systems for meat and plant based food.

Niacet is differentiated by its proprietary drying and granulation process technologies in its key market categories of bakery, meat and pharma. The business has customers in over 75 countries and key manufacturing sites in Niagara Falls in the USA and Tiel in the Netherlands.

The transaction is expected to close by the end of the third quarter of this year subject to customary closing conditions and regulatory approvals.

The bridging facility will be repaid out of proceeds from the sale of Kerry Consumer Foods’ meats and meals business for approximately €819 million, which is expected to complete in the fourth quarter of the year.

Niacet will be integrated into Kerry’s global food protection and preservation platform.

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