Acquisition of leading pig farming business

11 February 2020

Cranswick plc

Acquisition of leading pig farming business

Cranswick plc ("Cranswick" or "the Company" or "the Group"), a leading UK food producer, announces that it has acquired the Buckle family's pig farming and rearing operations as well as the family's 50% share of the White Rose Farms Limited pig production joint venture set up by Cranswick and the Buckle family in 2018. The enlarged pig enterprise, to be known as White Rose Farms, specialises in the production of Red Tractor assured pigs in Yorkshire and will continue to be led by Rick Buckle.

Following the acquisition of Packington Pork in December, which specialises in British free range and outdoor pigs, today's transaction further increases Cranswick's self-sufficiency in UK pigs processed to over 30%. The transaction reinforces Cranswick's commitment to a sustainable and traceable farm to fork operation, in line with its Second Nature strategy.

Adam Couch, CEO of Cranswick, commented:

"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."

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Notes:

1.     Cranswick is a leading and innovative supplier of premium, fresh and added value food products. The business employs over 11,000 people and operates from sixteen well invested, highly efficient production facilities in the UK.  The Group produces a range of high quality, predominantly fresh food, including fresh pork, poultry, convenience and gourmet products. Through the Group's four primary processing and twelve added value processing facilities 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 rapidly growing export business.  Results for the year to 31 March 2019 showed revenue of £1,437m and profit before tax of £86.5m.

2.     Cranswick is committed to ensuring that its business activities are sustainable from farm to fork.  Our ambitious sustainability strategy 'Second Nature' has been developed to deliver our vision to become the world's most sustainable meat business.  Find out more at thisissecondnature.co.uk

3.   Red Tractor is the United Kingdom's largest food standards assurance scheme. The scheme covers animal welfare, food safety, traceability and environmental protection.