Dunbia sells Northern Ireland pork processing business
Dunbia has sold its Northern Ireland pork processing business at Ballymena to UK food producer Cranswick.
Cranswick announced that it has acquired the whole of the issued share capital of Dunbia Ballymena for cash. The wider Dunbia business is unaffected by the sale and will continue as normal.
Dunbia Ballymena is a leading Northern Irish pork processing business which currently employs 360 people and processes around 7,800 UK farm assured pigs each week.
This acquisition enhances Cranswick’s pig processing capability and establishes a significant presence in Northern Ireland. Dunbia Ballymena operates from a modern, purpose built facility in Co Antrim. In the year to 29 March 2016 revenues were £72.4m.
Jack Dobson, Executive Director of Dunbia Limited, will support Ballymena in a consultancy capacity to help ensure a smooth transition. The transaction will be funded from Cranswick’s existing debt facilities and is expected to be earnings neutral in the current financial year and earnings enhancing in the 2018 financial year.
Adam Couch, CEO of Cranswick, commented: “I am delighted to announce the acquisition of Dunbia’s Ballymena pork processing business. This acquisition 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.
“The management at Ballymena have created long lasting and sustained supply chain relationships and we look forward to building on this and continuing to invest in the facilities, and the team, over the years ahead. We welcome Jack and the team at Ballymena to Cranswick and look forward to working with them to develop the business further.”