Invicta Food Group bought by Brazilian firm thanks to meaty turnover

A 43% increase in turnover at a meat trader whet the appetite for a Brazilian takeover of the firm.

Invicta Food Group, based in Ashford, watched revenues grow to £287 million last year, having grown by 18% to £201 million in 2013, according to its latest accounts.

Operating profit increased 11% to £6.4 million, compared to a rise of 1% to £5.8 million a year earlier but it was growth in overseas sales which caught the eye of international buyers.

Invicta Foods Group at Ashford Eureka Park
Invicta Foods Group at Ashford Eureka Park

Turnover in the UK was £207.3 million, up from £168 million, while sales in the rest of the world reached £79.6 million, up from just under £33 million.

The company was bought for £18 million in April by Brazilian food company BRF SA, one of the leading meat exporters in the world, with food sold in more than 110 countries.

Its new owner, which has taken a 62% controlling stake in the firm, said it wants to improve distribution in the UK, Ireland and Scandinavia. The other 38% of the company remains in the hands of its board, led by chief executive Colin Norton.

Pre-tax profits were £5.2 million at Invicta, which employs about 25 people, down from £5.8 million, thanks to £1.6 million of exceptional items.

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