UK food maker Cranswick Foods has announced that it has conditionally agreed to buy Perkins Chilled Foods from Perkins Foods Group for £80.6m (US$156.1m).

Cranswick said the acquisition represents an important step in the company’s strategic development, increasing its operations in the growing UK cooked meats market, including the premium pre-sliced and pre-packed market segment, an area which Cranswick has been targeting for future growth from its existing operations. Perkins Chilled Foods supplies cooked meats and poultry to the UK food retail and foodservice sectors.

“Perkins Chilled Foods is a business which we have long admired. We are delighted to announce the acquisition today and look forward to working with their management team to generate further value for Cranswick’s shareholders,” said executive chairman Martin Davey.

Cranswick added that the company continues to trade in line with its expectations.