April 12, 2016
Cranswick, a pork producer in the UK, has acquired poultry business, Crown Chicken, for GBP40 million (US$57 million).
The deal comes after Cranswick bought over Benson Park, a top poultry producer, in October 2014 for an undisclosed sum.
"This acquisition represents important progress in our long-term growth strategy of developing new product channels in both pork and other proteins," Adam Couch, chief executive of Cranswick, said.
Crown Chicken - which breeds and processes chicken for various sectors - is a "well-respected operator in the UK poultry sector", according to Couch. The company also invested in its own milling operation, providing feed for its chicken as well as for pig and poultry producers in East Anglia.
Crown Chicken's revenues for 2015 amounted to GBP83.8 million (US$119.3 million), with earnings at GBP6.6 million (US$9.4 million).
- The Guardian