Listed food producer eyes potential acquisition

Hull-based food producer, Cranswick, has confirmed it is investigating a possible acquisition.

The company has this morning responded to press reports of a potential deal.

It states: “In line with the company’s stated long-term growth strategy to expand its product offering through further diversification, Cranswick regularly considers acquisition opportunities.

“The Board confirms it is currently engaged in a process regarding the potential acquisition of Inspired Pet Nutrition Limited, a leading UK pet food business.

“If successful, the Group’s current intention is to part-finance the acquisition via an equity placing of less than 10% of issued share capital to investors.

“There can be no certainty at this time that the acquisition will progress. The company will make a further announcement if and when appropriate.”

Inspired Pet Nutrition is based outside Thirsk, in North Yorkshire.