30 April 2013
Cranswick plc
("Cranswick" or "the Group" or "the Company")
Acquisition of pig rearing business
Cranswick announces today that it has acquired the whole of the issued share capital of East Anglian Pigs Limited ("EAP"). EAP, a successful business involved in the breeding, rearing and finishing of British pigs operates in the British premium outdoor pig-rearing sector and has accreditation under RSPCA Freedom Foods and Red Tractor. The company is a key supplier to Cranswick's activities in Norfolk and will continue as a separate operation with its own management team. At 31 March 2012 EAP had gross assets of £11.8 million.
This strategic acquisition demonstrates Cranswick's on-going commitment to, and greater control over, a robust and integrated supply chain with a clear focus on premium, British ingredients. The acquisition of EAP will give the Group's customers and the UK consumer further assurance as to the provenance and quality of its products.
We welcome the EAP management team and their colleagues to Cranswick and look forward to working with them to further develop the business.
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.
