By Powerscourt on 19/04/2023


Powerscourt is pleased to have advised SARIA Nederland B.V. (“SARIA”) on its completed acquisition of Devro Plc (“Devro”), in a deal that will accelerate the growth of both companies.

SARIA is an international manufacturer of quality products for the agricultural, energy, animal feed, food, catering and pharmaceutical industries, best known as a producer of natural sausage casings through its Van Hessen business.

Its acquisition of Devro, one of the world’s leading manufacturers of collagen products for the food industry, values the company at approximately £564 million on a fully diluted basis, implying an enterprise value of £692 million.

SARIA intends to maintain and invest in Devro’s seven manufacturing sites, and will maintain Devro’s presence in the UK and its headquarters in Scotland while strengthening the two companies’ research and development functions.

The Powerscourt team was led by Victoria Palmer-Moore, Managing Partner and James White, Head of Industrials & Support Services, supported by Nick Dibden, Genevieve Ryan, Maxim Hibbs and Joseph Ratcliff.

Victoria Palmer-Moore, Managing Partner of Powerscourt, said: “Helping to communicate SARIA’s commitment to invest in and grow Devro, alongside its strong track record of integrating and investing in acquisitions, including several in the UK, has formed a critical part of the Group’s activities around this transaction. We have greatly enjoyed supporting the SARIA team to tell its story and look forward to watching the combined Group’s progress. This acquisition is the latest deal we have advised on during a busy start to 2023, and we have entered the second quarter of the year with a strong pipeline of activity.”