UK processor Cranswick has released its third quarter trading statement, as it reports that it has acquired pig genetics business JSR Genetics.
The processor said that “strong revenue growth” during the period was underpinned by “excellent” volume growth across its core UK food business, as consumers “continued to appreciate the affordability, value for money and versatility” of Cranwick’s core pork and poultry categories.
Cranswick said the Group’s expanded pig farming and milling operations continue to contribute positively and will be “further strengthened” by the acquisition of UK-based pig genetics company JSR Genetics Limited from JSR Farms Limited. The transaction included the pig genetics and pig farming operations of JSR Farms Limited.
It said JSR Genetics undertook “extensive research and innovation” to deliver pig genetics with a continuous improvement in production efficiency, meat quality, animal health and robustness. The company is a long-standing supplier to Cranswick.
Outlook
Cranswick said that while it “remains cautious” about current market and wider geopolitical and economic conditions, the outlook for the current year ending 29th March 2025 remained in line with current market expectations.
“As we look ahead to the new financial year, we will need to manage the well-publicised inflationary pressures alongside wider economic uncertainty and food security risks.”
Adam Couch, Cranswick CEO
Adam Couch, CEO of Cranswick, commented: “We have delivered a record Christmas trading period underpinned by outstanding service levels and sector leading innovation across our festive product range. I would like to thank all our colleagues for their continued dedication and support in delivering this excellent performance.
“I am delighted to announce the acquisition of JSR Genetics, a leading pig genetics supplier and commercial pig producer based in East Yorkshire.This acquisition increases the scale of our indoor pig production, further securing supply for our customers’ pork requirements.
“The addition of an integrated pig genetics supply chain will allow us to drive ongoing improvements in production efficiency, meat quality, animal health and robustness, for the long-term benefit of our customers and the UK consumer.
“As we look ahead to the new financial year, we will need to manage the well-publicised inflationary pressures alongside wider economic uncertainty and food security risks, but our business is in great shape, and we are well placed to successfully manage the challenges that may lie ahead.”
