23rd Oct 2014 06:59
LONDON (Alliance News) - FTSE 250 pork producer Cranswick PLC on Thursday said it has agreed a deal to buy the entire share capital of Benson Park Ltd, a cooked poultry producer.
Cranswick did not provide any financial details on the deal. It said it will fund the deal via existing debt facilities and expects the acquisition to be modestly earnings-enhancing in the current financial year.
Benson Park is based in Hull and saw revenue of GBP41.1 million in the year to August 31, Cranswick said.
"This strategic investment moves Cranswick firmly into a new protein category with a well invested business that has a strong presence, supplying premium poultry products, in the fast growing food to go sector," Adam Couch, Cranswick Chief Executive Officer, said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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