Thu, 23 Oct 2014 | MERGER
The food producer behind Bodega and Weight Watchers, Cranswick, has purchased a rival poultry product maker, Benson Park.
Benson Park produces premium British cooked poultry products and supplies to customers in the “food to go” part of the retail food markets from its purpose-built factory in Hull. It has about 90 staff members and reported revenues of £41.1 million for the year to 31 August.
The purchase will be funded from Cranswick’s existing debt facilities and is forecast to be “moderately earnings enhancing” during this financial year.
On the deal Cranswick said in a statement: “This strategic acquisition moves Cranswick into a new protein sector broadening both the group’s product range and its customer base.”
Cranswick’s chief executive Adam Couch explained that an important part of the company’s long-term strategy is to “develop new product channels in its core UK market both in pork and other proteins”. Its acquisition of Benson Park is in line with that objective.
Benson Park’s managing director David Park and his team are to stay with the company and transfer to Cranswick.
Cranswick, which has won many accolades for its foods, is also behind the Woodall’s, Simply Sausages, Red Lion Foods and The Black Farmer brands.
Benson Park produces foods that can be used for sandwich fillings, pre-prepared salads and ready meals.
_______________________________________________________________
Related information:
Food businesses for sale
The wholesale business has an established trading history and has built up a strong reputation and a loyal customer base. Business is drawn from a wide demographic of clients with a good spread across different business sectors.
This is a unique opportunity to acquire a company specialising in luxury performance cycle clothing, utilising the finest specialist fabrics and cutting-edge construction techniques.
A leading internet-based provider of customisable and curated beauty box services. Over the last decade, the business has evolved from a premier subscription service to a leading internet-based provider of highly attractive and rapidly expanding beau...
WEB-BASED
11
|
Jul
|
Holiday letting agency acquires Cornish self-catering holiday specialist | BUSINESS SALE
Travel Chapter, a leading UK holiday letting agency, has ann...
11
|
Jul
|
Power services firm set to be acquired by US energy resilience group | BUSINESS SALE
The Wilmott Group Limited, a power services group with opera...
11
|
Jul
|
Dunfermline vehicle manufacturing services firm enters administration | ADMINISTRATION
A specialist manufacturing business based in Dunfermline has...
21
|
Jan
|
Cranswick buys pig genetics group JSR | BUSINESS SALE
Listed UK-based food group Cranswick has bought the entire s...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.