Cranswick, the Yorkshire-based food producer, today announced that it had acquired the issued share capital of Benson Park.
Benson Park is a producer of premium British cooked poultry. It supplies ingredients to customers who operate in the “food to go” sector of the retail multi-channel, convenience and foodservice markets.
In a statement, Cranswick said: “This strategic acquisition moves Cranswick into a new protein sector broadening both the group’s product range and its customer base.”
Benson Park operates from a purpose built facility in Hull and employs around 90 staff.
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, the chief executive of Cranswick, which is also based in Hull, 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, the 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 in the corporate department at Walker Morris, advised the sellers.
Rollitts acted for Cranswick