Cranswick expands operations with acquisition of pig genetics business
UK – UK food producer Cranswick has issued its third-quarter trading update, announcing the acquisition of JSR Genetics, a pig genetics and farming business based in East Yorkshire.
The purchase, completed from JSR Farms Limited, includes both the genetics and pig farming operations.
The company credited strong revenue growth during the quarter to higher volumes in its core UK pork and poultry businesses, citing consumer demand for affordable and versatile protein options.
Cranswick mentioned the continued contribution of its expanded pig farming and milling operations, which it expects to strengthen further with the addition of JSR Genetics.
According to the company, JSR Genetics has been a long-term supplier and has developed advanced genetic techniques aimed at improving meat quality, production efficiency, and animal health.
Despite positive performance, Cranswick expressed caution regarding broader economic challenges and geopolitical risks.
The company confirmed that its outlook for the financial year ending March 29, 2025, remains aligned with market expectations.
It also acknowledged ongoing inflationary pressures and food security concerns that may impact the new financial year.
This acquisition follows a series of investments by Cranswick to expand its operations.
In December, the company announced a US$25 million investment to increase poultry production capacity as part of its strategy to vertically integrate its poultry business.
The funds are being used to upgrade processing facilities in eastern England and expand operations at two East Yorkshire sites.
Cranswick’s pig farming division has also grown, with the acquisition of another farm and organic production growth.
The company now processes 34,000 pigs weekly, fulfilling over half of its pork supply needs.
For the 26 weeks ending September 28, 2024, Cranswick reported revenue of US$1.66 billion, a 6.1% year-on-year increase.
Adjusted operating profit rose 16.5% to US$124 million, with margins improving to 7.5%.
Volume growth of 7% in its core food business contributed to the overall revenue rise.
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