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| Date | 31 Jan 2022 |
| Time | 07:00:07 |
| Category | Acquisitions and alliances |
| ID | 0516A |
31 January 2022
Cranswick plc
("Cranswick" or "the Company" or "the Group")
Acquisition of dry pet food producer
Cranswick plc, a leading UK food producer, announces today that it has acquired the entire issued share capital of Grove Pet Foods Limited ("Grove Pet Foods").
Grove Pet Foods is a producer of dry dog food for several leading brands under private label relationships alongside its own brands including Vitalin (natural) and Alpha Feeds (working dog). The business operates predominantly from a purpose-built freehold facility in Lincolnshire and employs a total workforce of approximately 100. John Walgate, Managing Director, who has a wealth of experience in this attractive category, will remain with and continue to lead the business. We welcome John and the Grove Pet Foods team to Cranswick and look forward to working with them to invest in and develop the business further.
Adam Couch, Chief Executive Officer, commented:
"I am delighted to announce the acquisition of Grove Pet Foods, a well-invested manufacturer of dry pet food supplying leading brands focussed on the specialist pet retail market. This acquisition represents a platform for future growth in the attractive UK pet food market and diversification into this complementary category for Cranswick. The existing facility has capacity and a footprint for further expansion.
"Grove Pet Foods has built a reputation for high quality products and service that is well aligned with Cranswick. The combined business will benefit from vertical integration opportunities within the group and particularly our fresh poultry and pork businesses. We look forward to building on this and continuing to invest in the product range, facilities and the team over the years ahead."
Enquiries:
Cranswick plc
Mark Bottomley, Chief Financial Officer 01482 275 000
Powerscourt
Nick Dibden / Nick Hayns 020 7250 1446
Notes:
Cranswick is a leading and innovative supplier of premium, fresh and added value food products. The business employs over 13,000 people.
Cranswick was formed in the early 1970s by farmers in East Yorkshire to produce animal feed and has since evolved into a business which produces a range of high quality, predominantly fresh food, including fresh pork, poultry, convenience and gourmet products. The business develops innovative, great tasting food products to the highest standards of food safety and traceability. The Group supplies the major grocery multiples as well as the growing premium and discounter retail channels. Cranswick also has a strong presence in the 'food-to-go' sector and a substantial export business. For more information go to: www.cranswick.plc.uk
Cranswick is committed to ensuring that its business activities are sustainable from farm-to-fork. Its ambitious sustainability strategy 'Second Nature' has been developed to deliver the Group's vision to become the world's most sustainable meat business. Cranswick has committed to be a Net Zero business across its operations by 2040. Notable achievements to date include:
a. All 14 eligible manufacturing sites certified carbon neutral
b. Meeting the Champions 12.3 target to halve edible food loss and waste 10 years ahead of the 2030 deadline
c. Removing over 1,500 tonnes of plastic from the business, including the removal of black plastic and PVC, and increasing the recycled content of plastic packaging to up to 80%
d. Committing to purchase 100% certified deforestation-free soya
e. All production facilities are now powered by renewable grid supplied electricity
f. Retaining Tier One Global Business Benchmark on Farm Animal Welfare (BBFAW) status for the fifth consecutive year
g. Donating over 500,000 meals to local communities
h. Over 1,500 colleagues volunteering as Second Nature 'Changemakers' to help meet the Group's sustainability goals
i. Sustainability Award Finalists in 2021: The Grocer Gold Awards, FDF Awards
Find out more at: www.thisissecondnature.co.uk