Poultry producer sold for £40M
Poultry producer Crown and its subsidiary Crown Chicken has been bought for £40M by meat firm Cranswick.
Cranswick ceo Adam Couch said the deal represented an important strategic step.
“Crown is a well-respected operator in the UK poultry sector and represents an excellent opportunity for Cranswick to continue the development of its UK poultry business, building on the highly successful acquisition of Benson Park, the market leading producer of premium cooked poultry, in October 2014,” said Couch.
“This acquisition represents important progress in our long-term growth strategy of developing new product channels in both pork and other proteins.”
Shore Capital analysts Clive Black and Darren Shirley said: “We view the acquisition as highly complementary to management’s medium to long-term strategy to drive growth through the development of new product channels in both pork and other proteins.”