A new company, called East Anglian Pigs, has been formed and will maintain the pig production business, which includes over 1200ha (3000 acres) of pig breeding farms. Stock is a mixture of self-reared pigs and purchased livestock and the company will continue to supply the processing operation that Cranswick acquired from Bowes.
Funding for the management buy-out was supplied through debt and working capital from the Royal Bank of Scotland.
“The breeding element of the business is one of the biggest in the country and we feel provides future opportunities for our newly-formed company moving forward in not just the existing markets we operate within, but potentially new markets as well,” commented Adrian Dowling, East Anglian Pigs managing director.
“We feel that the joint purchase of the overall business by Cranswick and our buy-out of the breeding division is good news for all associated parties, especially our staff who retain their roles in our new business.”