11th Feb 2020 08:57
(Alliance News) - Cranswick PLC on Tuesday said it has further expanded its pig processing business through the acquisition of a pig farming and rearing business in the UK.
The Kingston upon Hull, England-based food producer has acquired the Buckle family's pig farming and rearing operations, as well as the family's 50% share of the White Rose Farms Ltd pig production joint venture which was set up by Cranswick and the Buckle family in 2018. The Buckle operations are Lincolnshire and Yorkshire.
No financial details of the transaction were disclosed.
Cranswick Chief Executive Adam Couch said: "I am pleased to announce today's transaction, which further reinforces our strategic commitment to supporting and growing the British pig farming industry. We have worked with the Buckle family for over 25 years and we are delighted to welcome Rick, as managing director of White Rose Farms, and the wider team to Cranswick."
The company, which in December acquired pig rearing business Packington Pork Ltd, anticipates the Buckle deal to increase its self-sufficiency in UK pigs processed to over 30%.
Shares in Cranswick were 1.1% higher on Tuesday morning in London at a price of 3,686.00 pence each.
By Tapan Panchal; [email protected]
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