Cranswick gobbles up £41m turnover poultry business

FOOD business Cranswick has acquired a leading producer of cooked poultry which it says is in line with its strategy to develop new product channels.

East Yorkshire-based Cranswick has acquired the entire issued share capital of Benson Park, which supplies ingredients to customers which operate in the fast growing food to go sector of the retail multi-channel, convenience and foodservice markets.

Cranswick said the deal moves the business into a new protein sector broadening both the group’s product range and its customer base.

Benson Park is based in Hull and employs around 90 staff.

In the year to August 31 revenues grew to £41.1m. The transaction will be funded from Cranswick’s existing debt facilities and is expected to be modestly earnings enhancing in the current financial year.

Adam Couch, chief executive of Cranswick, said: “A key component of the group’s long term growth strategy is to develop new product channels in its core UK market both in pork and other proteins.

“Today’s announcement represents important progress in that objective. This strategic investment moves Cranswick firmly into a new protein category with a well invested business that has a strong presence, supplying premium poultry products, in the fast growing food to go sector.

“David Park, managing director, will remain with Benson Park and we welcome David and his team to Cranswick and look forward to working with them to further develop the business.”

John Hamer and Jon Healey, both from the corporate team at Walker Morris, advised Benson Park.

Rollits acted for Cranswick.