Chicago’s Oldest Beef Processor Sells to Private Equity Firm
Australian beef processor Kilcoy Pastoral Co. (KPC) reached a definitive agreement to buy what is said to be Chicago’s oldest operating beef processor, Ruprecht Co., Mundelein, Ill.
Ruprecht produces a wide range of raw and cooked beef, pork, lamb, poultry and seafood products for foodservice, retail and export. Ruprecht employs about 270 workers at its state-of-the-art further processing plant. All employees will retain their jobs in the merger.
“We are truly excited by this opportunity to join a global protein leader like Kilcoy. We now have access to a superior and consistent supply of premier quality beef and lamb products, enabling us to better serve our existing customers and expand our business with additional product offerings,” says Walter Sommers, president of Ruprecht. “Our entire management team and myself will continue to manage and expand Ruprecht’s business. “
“We plan to support Ruprecht with superior supply and additional investments to solidify its competitive position and to grow its product offering and market positions,” says Alex Zhang, chairman of KPC Group and partner of Hosen Capital, manager of private equity fund New Hope Investment Fund, which owns KPC.