In a statement, Cranswick, a major pork producer, said: “This strategic acquisition moves Cranswick into a new protein sector broadening both the group’s product range and its customer base.”
Hull-based Benson Park employs 90 people and in the year to 31 August saw revenues grew strongly to £41.1 million. It supplies ingredients to customers who operate in the “food to go” sector of the retail multi-channel, convenience and food service markets.
The transaction will be funded from Cranswick’s existing debt facilities and is expected to be “modestly earnings enhancing” in the current financial year.
Adam Couch, the chief executive of Cranswick, which is also based in Hull, said: “A key component of the group’s long term growth strategy is to develop new product channels in its core UK market both in pork and other proteins.”