Carroll Cuisine

Date of CCI investment: 2015

Description: Producer and distributor of chilled food products

Website: carrollsoftullamore.ie

Investment Team:
Jonathan Cosgrave

Status: Realised

Established in 1979, Carroll’s is an Irish producer and distributor of branded and private label chilled food products including deli ham, pre-packed sliced cooked meats, and chilled ready meals.

Carroll’s operates from a single production facility located in Tullamore with approximately 325 employees and supplies products through all of the major grocery retailers in Ireland in addition to a large number of independent retailers and convenience stores throughout the country.

In April 2015, CCI alongside the Carroll’s management team completed a carve-out of the business from Aryzta AG. Under CCI’s ownership, Carroll’s generated strong revenue and earnings growth through increasing its penetration of its client base with a higher rate of sale for existing products and new listings.

In February 2021, CCI completed the sale of Carroll’s to Eight Fifty Food Group, a company backed by a UK private equity firm, CapVest.

Value Creation Case Study

Results

+47%

Revenue

+49%

EBITDA

+117%

Employees

+33%

Branded product category growth

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