Cranswick UK meat group buys Dunbia pork unit
Dunbia Ballymena employs 360 people and processes around 7,800 UK farm assured pigs each week. It operates a purpose built factory in County Antrim and has a "strategic, well-established supply chain" with "strong links" to local farmers, Cranswick said.
Adam Couch, the CEO of Cranswick, added the deal "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".
In the year to 29 March, the unit generated revenue of GBP72.4m (US$90.1m). Financial details of the all-cash transaction were not disclosed but Cranswick said it will be funded through its existing debt facilities. The deal is expected to be earnings-neutral for Cranswick this financial year (2016/17) and earnings enhancing in fiscal 2018/19.