Cranswick acquires premium cooked meat business
Leading meat processor Cranswick has snapped up a small premium cooked and roasted meat business, acquiring the entire issued share capital of Kingston Foods for an undisclosed sum.
A statement from Cranswick said: “The acquisition of Kingston strengthens Cranswick’s cooked meat production capabilities, further diversifies its product range in a growing market and broadens the group’s customer base.”
Kingston’s managing director Tony Turner and operations director Paul Williams will stay with the business, which was valued as having gross assets of £3.7m in January 2012.
The purpose-built plant in Milton Keynes, which is accredited to BRC Grade A and Soil Association Organic standards, produces deli cooked ham, pork, beef, turkey and lamb products, as well as regionally cured hams, and sliced meats for wholesalers and trade.
Cranswick is already one of the largest cooked meat producers in the UK, operating under its Cranswick Convenience business. Its cooked meat business, which primarily supplies into the UK food retail, foodservice and food manufacturing sectors, covers both the premium and standard sector, pre-pack, deli and rotisserie. Brands include a new Weight Watchers range, and Jamie Oliver’s range of outdoor-bred British pork and beef products.
Cranswick’s results for the year to 31 March 2012 showed better than expected sales of £821m, boosted by a strong second half and profit before tax of £48.4m.
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