Acquisition

RNS Number : 5739G

Cranswick PLC

02 July 2012

 



2 July 2012

Cranswick plc

("Cranswick" or "the Group" or "the Company")

Acquisition of cooked meats business

Cranswick today announces the acquisition of the entire issued share capital of Kingston Foods Limited ("Kingston").  Kingston is a producer of premium cooked and roasted meat products and at 27 January 2012 had gross assets of £3.7 million.

The acquisition of Kingston strengthens Cranswick's cooked meat production capabilities, further diversifies its product range in a growing market and broadens the Group's customer base.

Tony Turner and Paul Williams, the vendors, will continue in their current positions as managing director and operations director respectively.  We welcome Tony, Paul and their colleagues to the Cranswick group.

Enquiries:

Paul Quade                                                                          07947 186694

CityRoad Communications                                               020 7248 8010

 

Notes:

Cranswick's activities are focused within the UK and include the processing and supply of fresh pork, sausage, bacon, cooked meats, charcuterie, pastry products and sandwiches.  Products are primarily supplied into the UK food retail, food service and food manufacturing sectors.  Results for the year to 31 March 2012 showed sales of £821m and profit before tax of £48.4m.

 

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