Westland swoops for Cranswick Pet Products
CRANSWICK Pet Products, a leading manufacturer in the wild bird and small animal markets, has been bought by horticultural company Westland.
Driffield-based Cranswick Pet Products was sold by food manufacturer Cranswick to a management buyout team backed by Lloyds Development Capital for £17m in 2009.
The latest deal is thought to be valued at around £18m.
Westland, which is headquartered in Northern Ireland, said the acquisition followed its launch into the wild bird market after it acquired another company, Peckish.
It said the deal would add to its opportunities of growing its share of the wild bird food sector in Europe.
Westland believes CPP’s brands, including Bucktons and Nature’s Feast, will give it access to market leading knowledge, expertise, infrastructure and leading manufacturing facilities.
Edward Conroy, joint managing director of Westland, said: “Both Westland and Cranswick Pet Products have a strong record in growing categories, delivering innovation and consumer quality.
“It is these synergies that make this one of the most exciting opportunities in gardening. The purchase of Cranswick Pet Products is the perfect complement to our existing business and reinforces our strategy to keep driving participation in gardening by delivering unique products to make the garden a more enjoyable environment.
“A key reason for Westland to invest in Cranswick was the knowledge and the commitment of the senior management team as well as its high quality workforce.”
Sam Marriage, national sales manager of Cranswick Pet Products, said: “We are incredibly excited with the new opportunity to merge with Westland. We are confident that together as one we can grow the market and communicate the benefits of quality bird food, which will increase the number of birds in the garden and will give gardeners great enjoyment.”
Davy Corporate Finance acted as lead advisor to Westland Horticulture on the transaction.
Westland supplies products including lawn treatments, lawn seed, plant food, pest control and weed killers.
It is understood that Derek Black, who led the 2009 MBO, will remain with Cranswick Pet Products, which manufactures and distributes branded and own label food products for wild birds and small animals.
