One of the UK's leading poultry integrators, Faccenda, has acquired the country's second biggest turkey producer, Cranberry Foods, for an undisclosed sum, taking its combined turnover to about £400 million.
The deal complements Faccenda's recent announcement of its planned internal investment at its Telford and Brackley sites, including investment in new cutting and portioning lines, chilled warehousing and new administration facilities.
"This is an exciting and important acquisition for Faccenda and its employees, making us one of the UK's largest food producers," said marketing director Andy Dawkins. "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."
Cranberry Foods' joint managing directors, Andrew Lewins and David Horn, will remain with the business in their existing positions until a smooth transition into the Faccenda group has taken place.
"We are delighted to be joining the Faccenda family. They have been a UK success story for many years and share our commitment to British farming," said Mr Lewins. "Through this acquisition Cranberry gains the benefits of being part of a larger food business that seeks to build on its existing strengths and successes. It heralds a new era for Cranberry Foods and its employees."
Faccenda Group is a privately-owned family business with a turnover of about £300m that has been a leading supplier of fresh chicken products for 50 years. It operates sites in Brackley, Northamptonshire, and Telford and Dudley in the West Midlands, and employs 2,000 people in its hatcheries, farms, feed mills and processing plants.
In it's last published accounts for the year to April 2011, the company reported a profit squeeze due to the rise in feed costs and the tough retail market, but said it was still looking for further opportunities for growth.
Cranberry Foods supplies the UK's leading supermarkets and food service sector with a wide range of fresh and frozen turkey products. The company has 750 employees and a turnover of about £100m. Its factory sites include processing plants in Scropton, Derbyshire and Abergavenny, while its farming operation stretches from Yorkshire to South Wales.