Norfolk’s Banham Poultry is planning to increase turnover by concentrating solely on rearing and selling chickens after selling its “non-core” composting operations.
The directors of the Attleborough business are hoping to see turnover top £85m this year, which outstrips £70m filed in the last accounts. Banham have sold Banham Compost to TEG the environmental and waste processing group, based in Chorley, Lancashire, for around £1.9m.The deal means that TEG will also inherit a £1.2m asset finance facility. The deal follows the sale of Clay Hall Farm, which was under the “Compost” umbrella.
Banham Poultry director, Barry Skipper, said: “We have decided that we should try to get the business back to its core – the rearing and selling of chickens. The chicken market is in good shape at present. When people tighten their belts they buy more chicken – it’s just what happens and it’s a good, cheap form of protein.”
Mr Skipper was appointed a non-executive director last year along with the appointment of new chief executive, Martyn Bromley. The appointments followed a boardroom shake-up by Banham owner and Norwich City FC director, Michael Foulger.
Banham Poultry employs around 600 people.