About £2M had already been invested to increase production in the business, with an added £2M cash injection planned by the end of 2018, said Cranswick ceo Adam Crouch. The investment would be used to hit Cranswick’s long-term target of boosting pig processing numbers from 8,000 a week to 14,000.
“We acquired it in November last year, and we have already spent over £2M in flows, production, butchery and the packing hall,” Crouch told the Belfast Telegraph. “In the next 18 months, it will be another £2M.
‘A good strong workforce’
“We have a good strong workforce; we have increased automation. We are looking to see how far we can grow the pig numbers.”
Since Cranswick acquired the County Antrim site in November, it has increased pig processing numbers to 10,000 a week. Crouch said the meat processor would reach its 14,000 target with “a moderate investment”.
For more information on Cranswick’s investment, click here.
The Northern Ireland purpose-built facility was acquired as part of Cranswick’s takeover of Dunbia’s pork business in November. The site employed 360 people at the time, and generated annual sales of £72.4M.
Cranswick’s fifth takeover
The Dunbia acquisition was Cranswick’s fifth takeover in less than five years. See below for a full timeline of its acquisitions.
Cranswick was established in the 1970s, and entered the stock market in 1985. In 1991, it began processing pork and cooked meats. By last year, the business included: chicken rearing, premium cooked poultry processing, pig breeding and rearing, pasties production and bacon processing.
Meanwhile, Cranswick’s export sales continued to grow in the three months to December 31, it reported in its third-quarter trading update on February 2. It reported a 38% profit rise to £40.4M, and a 15.9% rise in revenue to £580.8M.