Food tycoon takes stake in butchers chain Crawshaw

Chief Executive Noel Collett of Crawshaws Butchers, pictured at their shop at the Merrion Centre, Leeds..SH10014166c...9th July 2015 Picture by Simon Hulme

The two businesses plan to integrate their supply chains. The deal will give Crawshaw access to 2 Sisters’ surplus fresh poultry and includes a three-year supply agreement for Crawshaw to acquire fresh meat and other products from 2 Sisters.

Noel Collett, chief executive of Crawshaw Group, said: “This is a transformational partnership for the Crawshaw Group with a significant opportunity to offer a greater range and better availability to our customers. This new relationship provides a catalyst to our accelerated growth, both in sales and profitability.

“We very much welcome the 50/50 equity split as it reflects the symbiotic nature of the partnership and aligns both our interests to achieve maximum shareholder value. The two-stage subscription including conditional warrants will allow the commercial benefit to be demonstrated as part of the process.”

Ranjit Boparan, chief executive of Boparan Holdings, said: “This is a great opportunity that complements our corporate social responsibility policy and our aim to reduce levels of quality food that would otherwise go to waste.

“Our businesses have a significant number of opportunities to work through together in the coming weeks and months.”