Cranswick pulls out of pet food business acquisition

On Wednesday, Hull-based Cranswick confirmed that it was considering an offer for the Thirsk based pet food business, which may have involved a placing of less than 10 per cent of its present equity base.

On Thursday morning, Cranswick issued a brief statement saying: "Further to its announcement of 16 December 2020, theboard of Cranswick plc today confirms that it has withdrawn from the acquisition process for Inspired Pet Nutrition Limited."

Cranswick recently announced plans to create 100 jobs and invest £20m in a new cooked bacon facility in Hull which will fulfill a new supply deal with McDonald's.

The firm, which is one of the largest employers in Hull, said the site is being built on Helsinki Road, Sutton Fields, alongside the existing Cranswick Gourmet Sausage site (Lazenby’s) and production will start in early 2021.

The facility will initially supply cooked bacon to market leading, fast food chain, McDonald's, and there are plans to expand the business further.

Cranswick said the initial 100 jobs could increase to 140 once the facility gets up and running. The group will employ 4,500 people in Hull once the new facility is built.