The deal will see Cranswick become The Jolly Hog’s “long-term manufacturing partner”. The financial terms of the deal have not been disclosed.
A filing with Companies House indicates that Cranswick’s stake in the business is between 25% and 50%.
Operating out of Hull, London Stock Exchange-listed Cranswick is one of the UK’s largest pork producers, supplying a wide range of retail and foodservice customers.
The Jolly Hog’s management is set to remain independent, although founders and brothers Max, Josh and Olly Kohn will no longer have significant control of the business. However, they will continue to lead it with “the same values and vision”.
The firm’s existing structure will remain in place, while all staff at its Bristol headquarters will be retained.
According to The Jolly Hog, Cranswick’s investment will help it increase production capacity, reinforce supply security and “strengthen access to world-class technical expertise”.
The brand added that the financial boost would help it improve its NPD pipeline, allowing new products to be “developed and launched faster”, while maintaining the “quality, flavour, recipes and standards [its] consumers know and trust”.
The move will not affect The Jolly Hog’s commitment to sourcing 100% British, outdoor-bred and RSPCA Assured pork.
Olly, Max and Josh Kohn, founders of The Jolly Hog, said: “This marks a major milestone for our business. With Cranswick alongside us, we have the investment, expertise and manufacturing capability to scale faster without compromising on the quality, flavour or values that define our brand.
“We’re lucky to say we’ve seen growing retailer interest in stocking our range and this partnership ensures we can meet that demand whilst maintaining the standards we’re known for. The business remains founder-led, our commitment to higher welfare British pork remains unchanged and we’re incredibly excited about what comes next for our retail partners and consumers.”
Prior to the investment, The Jolly Hog had been on course to generate turnover of £30 million this year and had been aiming to double its revenue over the next three years.
Jim Brisby, chief commercial officer at Cranswick, said: “The Jolly Hog is a brand with a clear purpose, a loyal following and a reputation for delivering exceptional products.
“We’re delighted to be partnering with Olly, Max and Josh at such a pivotal moment in their journey and will support the team to deliver their exciting and ambitious growth plans to unlock the full potential of The Jolly Hog.”
