UK food producer Cranswick has acquired Northern Irish pork processing business Dunbia Ballymena for an undisclosed amount.
Cranswick purchased the entire issued capital of Dunbia Ballymena’s pork business for cash.
Dunbia Ballymena has a work force of about 360 people. It processes about 7,800 UK farm assured pigs per week.
The acquisition will allow Cranswick to expand its pork processing business significantly and can also help in capturing the Northern Irish market.
Dunbia Ballymena has a factory in Country Antrim in Northern Ireland. With a strategic supply chain, the company maintains strong links with the local farming community. As of March this year, the company registered about £7 2.4m.
Dunbia’s executive director Jack Dobson will support Ballymena as a consultant for a smooth transition.
Cranswick will finance this acquisition using its existing debt facilities. The company expects that earnings for this financial year to be neutral and post enhanced earnings for the financial year 2018.
Cranswick CEO Adam Couch said: “This acquisition strengthens our UK pork processing business and provides us with greater control over our supply chain, ensuring that we can maintain the production and processing of high quality, UK farm assured, pigs which is central to our customer’s requirements.
“The management at Ballymena have created long lasting and sustained supply chain relationships and we look forward to building on this and continuing to invest in the facilities, and the team, over the years ahead."
