Eight Fifty Food Group, the owner of Young's Seafood, is close to appointing bankers JP Morgan and Jefferies to work on an initial public offering (IPO) to list on the London Stock Exchange, according to Sky News.
Eight Fifty Food Group -- which was formed following the acquisition of Young's by pork processing giant Karro in July 2019 -- is itself owned by the private equity firm CapVest.
A formal decision to proceed with a flotation has yet to be made, but if it goes ahead, it would not take place until next year, said Sky News.
Eight Fifty Food Group has annual sales of approximately £1.4 billion (€1.5 billion/$1.8 billion) and employs more than 7,500 people across 19 sites in the UK and Ireland.
It is unclear whether CapVest might also seek to gauge the interest of potential buyers of the company, alongside the preparations for a stock market listing.
A spokesperson with Eight Fifty Food Group told IntraFish earlier this month it had no comment on the speculative IPO.
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