Leading Hull food producer Cranswick has continued its busy 2019 for acquisitions with a deal to buy pig farming business Packington Pork.
Cranswick, a FTSE 250 company, said the move would give it direct control over a large part of its supply chain for premium pigs.
Packington Pork Ltd operates from sites across Lincolnshire, Nottinghamshire and Staffordshire, and was part of the Mercer family.
The deal follows Cranswick’s swoop earlier in 2019 to .
Adam Couch, CEO at Cranswick, said: “I am delighted to announce the acquisition of the premium pig farming business, Packington Pork Limited.
“This acquisition strengthens our existing farming operations and reinforces our commitment to supporting and growing the British pig farming industry.
“It also aligns to our strategy of enhanced transparency and provenance of our food from farm to fork. We have worked closely with the business for over 14 years.
“We welcome the existing farm management team and look forward to investing in and developing the business over the coming years.”
The deal increases Cranswick’s self-sufficiency in UK pigs processed to more than a quarter.
It also means the business, a major employer in and around Hull, will seize direct control over a large part of its supply chain for premium pigs.
The transaction does not include the Packington Free Range business, which will be retained by the Mercer family as a standalone business operating under the Packington brand.
Cranswick is one of Hull’s biggest businesses.
In what has been a busy year for the FTSE food producer, Cranswick recently announced sales had risen to £770m in the first six months of the financial year.
Revenue in Cranswick’s Far East markets almost doubled, as the widespread outbreak of African Swine Fever in countries including China continues to decimate markets.
The Hull-headquartered business currently accounts for almost 60 per cent of all UK pork exports to the Far East.
Mr Couch said: “I remain confident that continued focus on the strengths of our business, which include long-standing customer relationships, breadth, quality and relevance of our products, robust financial position and industry leading infrastructure, will support the further successful development of Cranswick over the near and longer term.”
In July, Cranswick completed the acquisition of Mediterranean food firm Katsouris Brothers for a fee which could rise to £50m.
Katsouris Brothers operates from two facilities in Wembley, London, and employs around 250 people.
Cranswick also last month began commissioning of its £75m poultry processing facility in Eye, Suffolk, as record £56m capital expenditure at the FTSE 250 company laid the foundations for future growth.
The Hull-headquartered business has also this year completed the £14m extension of its cooked meats facility in Hull.
