Irish food giant buys manufacturer in £15m deal

FOOD manufacturer The Sandwich Factory has changed hands in a deal worth up to £15m.

The business, based in Atherstone, Warwickshire, has been bought by Irish food firm Greencore from Cranswick.

The Sandwich Factory, which employs around 650 people and produces food-to-go ranges at its site, turned over £54m in the year to March.

Greencore chief executive Patrick Coveney said: “This acquisition makes strong strategic sense for Greencore, given our ongoing focus on the food to go market.

“We are delighted to be adding more capacity to our manufacturing network, and to be welcoming new colleagues to our business.”

The announcement came as stock market-listed Cranswick reported that revenues in the three months to 30 June 2016 were 11% ahead of the same period last year.

It spent £39m on poultry business Crown in that period as it focuses on its core operations.

Adam Couch, chief executive of Cranswick, said: “I am pleased to announce the sale of our sandwich business to Greencore which is very much in line with our strategy of focusing on our core protein businesses.  

“Moreover I am particularly delighted that the sandwich division is being acquired by a proven global leader in Greencore who will bring new opportunities and strengths to this business.”