UK chicken processor Faccenda Group has acquired the UK’s second-largest turkey producer, Cranberry Foods, for an undisclosed sum.
The combined company will serve the UK’s retail and foodservice sectors and will generate an annual turnover of GBP400m (US$646.5m), Faccenda said yesterday (1 May).
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Privately-held Cranberry Foods is a fully-integrated turkey producer with 750 employees, three processing plants and a farming operation that “stretches from Yorkshire to south Wales”. The company generates an annual turnover of approximately GBP100m, the firm said.
A spokesperson for Faccenda told just-food the move feeds into the company’s plans to drive long-term growth and follows recent internal investments to improve operations at its Telford and Brackley production sites.
The deal is expected to generate a number of synergies and each business is expected to benefit from cross-selling opportunities.
“It is an efficient business that will add additional products to Faccenda’s offering,” the spokesperson said. “Both companies have significant customer bases who will probably require chicken and turkey products, so that is another benefit.”
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By GlobalDataAs part of the agreement, Cranberry Foods’ joint managing directors, Andrew Lewins and David Horn, will remain with the business until a “smooth transition” is complete.
“For the first period, Faccenda is focusing on ensuring a smooth transition, there will be no sudden changes… There are lots of things they can learn from each other,” the spokesperson added.
Commenting on the acquisition, Faccenda MD Andy Dawkins said: “This is an exciting and important acquisition for Faccenda and its employees, making us one of the UK’s largest food producers. The clear synergies between our two businesses mean our customers will continue to enjoy an expert and trusted service, while allowing us to grow the scale and range of our products.”
