Cranswick buys Northern Irish pork processing business Dunbia Ballymena

16th Nov 2016 07:36

(ShareCast News) - FTSE 250 food producer Cranswick has acquired Northern Irish pork processing business Dunbia Ballymena for an undisclosed sum.Cranswick said the deal enhances its pig processing capability and establishes a significant presence in Northern Ireland.Ballymena, which operates from a facility in County Antrim and processes around 7,800 UK farm assured pigs a week, has a well-established supply chain with strong links to the local farming community. In the year to 29 March, the company generated revenues of £72.4m.Cranswick did not give any details about the price of the transaction but said it will be funded from its existing debt facilities and is expected to be earnings neutral in the current financial year and earnings-enhancing in full-year 2018.Chief executive officer 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."