Cranswick has reported an update on trading for the three months to June 30 and announced the £43.5 million acquisition of Katsouris Brothers, a leading Mediterranean food products business.
The business said that trading in the first quarter of the financial year had been encouraging, with sales in the period 1.5% aheadof strong comparatives in the same period last year.
Cranswick said that Far East export sales were strongly ahead of the corresponding period last year, reflecting increased demand from China following the widespread outbreak of African Swine Fever in the region.
Katsouris Brothers is a leading processor and multi-channel supplier of Continental and Mediterranean food products. The business operates from two facilities in Wembley, North London and employs a total workforce of approximately 250.
Adam Couch, Cranswick’s CEO, said: “We have made a positive start to the year and our capital investment programme, which is building a platform for future growth, remains firmly on track.”
