UK poultry processor Bernard Matthews has bought Lincolnshire-based turkey farmer Lincs Turkeys.
The acquisition of the firm, which achieved sales of GBP23m (US$34m) in 2008 and specialises in free-range and fresh turkey products, follows a period of extensive due diligence.
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Jeff Halliwell, UK managing director of Bernard Matthews, said: “We are delighted to have been able to acquire Lincs Turkeys, a successful and profitable company with an excellent corporate brand. Lincs Turkeys brings additional skills and expertise to the Group, which will enhance and support our long term growth plans.”
Halliwell added that the acquisition will allow Bernard Matthews to expand its offering in fresh and free-range turkey, areas of particular importance to the company.
“Lincs Turkeys will continue to be run as a stand-alone business within Bernard Matthews Holdings, retaining its own corporate identity and name, and we have no immediate plans to introduce any significant changes,” Halliwell said.
Lincs Turkeys’ managing director John Martin will stay on with the business.
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By GlobalData“We are proud to be joining forces with Bernard Matthews, especially at this exciting time when the Bernard Matthews Group is growing and developing,” Martin said. “For Lincs Turkeys, this is a transformational opportunity, which will benefit both our customers and colleagues alike. Lincs Turkeys and Bernard Matthews are an excellent strategic fit and by combining our inherent strengths we will be able to develop a stronger business.”
The purchase comes on the back of the launch of a GBP5m marketing campaign by Bernard Matthews and the return of the slogan “bootiful” last month, as well as the hiring of celebrity chef Marco Pierre White as an ambassador for turkey.
