Pork Farms has acquired the chilled savoury pastry assets of Kerry Foods.
The purchase of Kerry Foods’ manufacturing assets in Dorset, Spalding and Lincolnshire will create a new company to trade under the Pork Farms group name. Financial details have not been disclosed.
Pork Farms’ existing management team will lead the merger, with Chris Peters as group managing director. Gareth Voyle will remain chairman.
Peters said: “This acquisition is an extremely exciting next step for our business. It will provide our customers with a streamlined, more responsive and better invested supply chain, reflecting the increasingly competitive retail landscape that we are seeing in today’s market as consumers’ shopping habits change.
The transaction includes Kerry Foods’ manufacturing, warehouse and back office support functions at its Spalding and Poole sites.
The group will continue to manufacture and distribute all Pork Farms’ branded products.
Peters said: “Over the past seven years, Pork Farms has developed a track record for innovation and quality. This move helps us to build on this, allowing us to make further investment in production facilities, R&D and innovation.
“This will expand the quality and range of products available to all our customers, and will provide new opportunities for our employees.”
Andy Rich, company partner at Vision Capital, commented: “This transaction builds on the solid trading progress seen within Pork Farms over the past seven years and will enable the combined group to expand its product range and better serve its customers. We look forward to working alongside management as the business moves into this next stage of development.”