The deal also saw the producer acquire the Buckle family’s 50% share of the White Rose Farms pig production joint venture – set up by Cranswick and the Buckles in 2018. The enlarged pig enterprise, to be known as White Rose Farms, specialises in the production of Red Tractor-assured pigs in Yorkshire and will continue to be led by Rick Buckle.
Cranswick said the purchase reinforced its commitment to a sustainable and traceable farm to fork operation, in line with its ‘Second Nature’ strategy.
Supporting British pig farming
Chief executive Adam Couch said: “I am pleased to announce today’s transaction, which further reinforces our strategic commitment to supporting and growing the British pig farming industry.
“We have worked with the Buckle family for over 25 years and we are delighted to welcome Rick, as managing director of White Rose Farms, and the wider team to Cranswick.”
Cranswick’s acquisition of White Rose Farms followed the purchase of outdoor pig farming business Packington Pork last month for an undisclosed sum.
The deal saw the producer take control of Packington’s farming and rearing operations across Staffordshire, Nottinghamshire and Lincolnshire, in a move that would boost Cranswick’s self-sufficiency in UK pigs processed to more than 25%.
Cranswick’s purchase of both Packington’s and White Rose Farms has brought the producer’s self-sufficiency in UK pigs to 30%.
Commenting on the acquisition, Shore Capital head of research Clive Black said: “The transaction reflects an already well and effectively worn track by the group to build strong and sustainable alliances with complementary businesses, going on to then take fuller control while retaining existing management expertise.”
Meanwhile, jobs at desserts maker Indulgence Patisserie have been saved after certain assets of the company were bought out of administration by specialist turnaround investment firm Volvere.