Greencore acquires sandwich business from Cranswick
Pork processor Cranswick has sold its sandwich business, The Sandwich Factory Holdings Limited, to Greencore plc for a cash consideration of £15 million, as part of the company’s strategy to focus on its core protein businesses.
The Sandwich Factory, which operates from a single facility in Atherstone in Warwickshire, produces a range of food to go products from distribution in the convenience store and food service channels.
Greencore CEO Patrick Coveney believes the acquisition makes “strong strategic sense for Greencore”.
Adam Couch, CEO of Cranswick, commented: “I am pleased to announce the sale of our sandwich business to Greencore which is very much in line with our strategy of focusing on our core protein businesses.
“Moreover I am particularly delighted that the sandwich division is being acquired by a proven global leader in Greencore who will bring new opportunities and strengths to this business, its customers and the staff to whom, on the board’s behalf, I would like to extend our thanks for their long standing loyalty and commitment to Cranswick.”
The sandwich business is set to extend Greencore’s presence in the food to grow category outside of its current core business with large grocery customers.
Greencore CEO, Patrick Coveney, said: “This acquisition makes strong strategic sense for Greencore, given our ongoing focus on the food to go market. The Sandwich Factory will extend our reach into customer channels in which we are currently under represented, notably convenience stores and the travel sector, and will also bring new product types into the Greencore portfolio.”
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