Food producer acquires pig genetics firm
East Yorkshire-based food producer, Cranswick, has acquired JSR Genetics Ltd from JSR Farms Ltd.
The deal includes the pig genetics and pig farming operations of JSR Farms.
JSR Genetics, which is also located in East Yorkshire, develops genetic solutions for cost effective pig production. The firm is an existing, long-standing supplier to Cranswick.
Adam Couch, CEO of Cranswick, said: “This acquisition increases the scale of our indoor pig production, further securing supply for our customers’ pork requirements.
“The addition of an integrated pig genetics supply chain will allow us to drive ongoing improvements in production efficiency, meat quality, animal health and robustness, for the long-term benefit of our customers and the UK consumer.”
Cranswick has also today issued an update on trading for the 13 weeks to 28 December 2024.
It reports strong revenue rises during the period, underpinned by volume growth across its core UK food business.
The business notes its premium value-added products performed “extremely well”, contributing to a record festive trading period performance.
Cranswick adds that the China export licence at its Norfolk primary processing facility has been reinstated after a four-year hiatus. This means a full range of products will start being shipped to China this month.
The company says it remains in a robust financial position with committed, unsecured facilities of £250m.
And it says the outlook for the current financial year ending 29 March 2025 remains in line with current market expectations for adjusted profit before tax between £189m and £195.1m.
Couch said: “We have delivered a record Christmas trading period underpinned by outstanding service levels and sector leading innovation across our festive product range.
“As we look ahead to the new financial year, we will need to manage the well-publicised inflationary pressures alongside wider economic uncertainty and food security risks, but our business is in great shape, and we are well placed to successfully manage the challenges that may lie ahead.”
