Blackfriar: Cranswick is a fine example of Yorkshire pragmatism and expertise

Hull-based Cranswick has done a remarkable job of bringing home the bacon in terms of revenue and profit whilst still investing in factories to keep it at the top of its game.

Cranswick said investment is at record levels and it is maintaining industry leading standards at all its facilities.

It said investment in the new £75m poultry primary processing facility in Suffolk, which will more than double existing capacity, is progressing to plan. Commissioning is expected to take place towards the end of the financial year and is being fast-tracked to support the anchor customer for the new site, Morrisons.

It said the “world class operation” is the first new primary poultry plant to be constructed in the UK for almost 30 years and will, when fully commissioned, be the most technologically advanced and efficient facility in the UK industry, incorporating the highest animal welfare standards.

Animal welfare is important to consumers and as we eat less meat as a nation, people want to know that the meat they do eat is humanely sourced.

This latest Katsouris acquisition will boost the firm further. The country may be in a Brexit crisis, but Cranswick is doing what it does best - keeping its head down, grafting hard and making canny investments and acquisitions.

Blackfriar: Retailers need clarity on Brexit but are unlikely to get it from Boris JohnsonAnalysts at Shore Capital said the Mediterranean chilled and ambient antipasti product areas are attractive and subject to strong growth. Katsouris brings with it a diverse array of products that are complimentary to Cranswick’s existing Continental Fine Foods business, such as Greek olives, olive oil, feta and halloumi cheeses and chickpeas - the base for humus.

Analyst Darren Shirley at Shore Capital said Katsouris will help Cranswick’s activities diversify away from meat.

He added that with a growing presence in the fast-growing, plant-based Mediterranean segment of the UK market, he sees the acquisition further developing Cranswick’s relationship with leading retail customers in core categories, whilst creating a basis to leverage its existing investment in the continental/ Mediterranean food space. Furthermore, outside of retail Katsouris has used its North London base and expertise to build a notable presence in the large, fragmented and diverse London food service market where Cranswick has a relatively low participation.

Blackfriar: Yorkshire is leading the way on green energyCranswick is a highly successful Yorkshire company which has ambitious plans for both nationwide expansion and global growth.

The firm said exports to the Far East have shot up 16 per cent, boosted by strong demand for outdoor, premium pork from leading Asian countries.

Cranswick also reported a surge in exports after African swine fever decimated pig herds in Asia.

In the past, Cranswick has shipped cuts that British consumers tend to spurn such as offal, but now there is a demand for premium cuts such as shoulder and belly meat.

The group has also started shipping ribs to Canada where demand is growing rapidly.

Blackfriar notes that Yorkshire firms have a long history of knuckling down and getting on with it at times of huge political and economic upheaval.

Cranswick is a fine example of this Yorkshire pragmatism and expertise.