ONE OF Britain’s top Asian businessmen is stepping down as CEO of the company he founded two decades ago.
Ranjit Singh Boparan, the co-founder, owner and CEO of 2 Sisters Food Group, will become president of Boparan Holdings Limited (BHL) the parent company of the business he set up 25 years ago.
“I am fully committed to building a better, more transparent business, modernising our company and simplifying our operations,” Ranjit said.
“I want to take a broader industry leadership role and concentrate more on the issues and challenges that affect not only our business, but also the food sector in general such as Brexit, social responsibility and sustainability.”
The 51-year-old tycoon, based in the Midlands, left school at 16 and turned 2 Sisters into Britain’s largest poultry supplier through a series of acquisitions, including a £342-million- takeover of quoted rival Northern Foods in 2011. He also acquired turkey business Bernard Matthews and restaurant chains FishWorks, Giraffe and Harry Ramsdens.
Chairman of BHL, Charles Allen, said Boparan will be “looking at new opportunities and reducing debt that will help take the business to new levels of success”.
Earlier this year, the 2 Sisters Food Group said it would close three of its factories, threatening the future of nearly 900 jobs.
Boparan in January sold the pizza brand Goodfellas to the owner of Birds Eye for £200 million in cash.