Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Drinks | Retail | Videos
Processed Foods
Savory Snacks
Return to: FBR Home | Processed Foods | Savory Snacks

Greencore buys Cranswick’s sandwich business for £15m

FBR Staff Writer Published 25 July 2016

Irish food company Greencore has announced that it has acquired Cranswick’s sandwich business, The Sandwich Factory Holdings, for £15m.

The acquisition is expected to expand Greencore’s presence in the high growth food to go category outside of its current core business.

The Sandwich Factory operates a single facility in Atherstone, Warwickshire, to produce a range of food to go products for distribution in the convenience store and food service channels.

It earned a revenue of £42m in the fiscal year ended 31 March 2016.

 Greencore plans to fund the acquisition from existing debt facilities.

Greencore CEO Patrick Coveney said: “This acquisition makes strong strategic sense for Greencore, given our ongoing focus on the food to go market.

“The Sandwich Factory will extend our reach into customer channels in which we are currently under represented, notably convenience stores and the travel sector, and will also bring new product types into the Greencore portfolio. We are delighted to be adding more capacity to our manufacturing network, and to be welcoming new colleagues to our business.”

In January, Greencore said it was planning to hire 100 new employees at its newly-opened distribution center in Hatfield, Hertfordshire, in order to cater to its growing customer base.

The company had opened the site in Hatfield Business Park last November.

The sandwich making company opines that the expansion of its distribution facilities will facilitate in handling increased volumes, reported Just-food.com.

Earlier in 2014, the company also aimed to strengthen its position in the US by setting up a new sandwich manufacturing facility in Rhode Island, with an investment of around £20m.