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Cranswick - Shares hit £25 after acquisition

June 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CWK
  • Price:
  • 2387p
The shares briefly soared to a new high of £25 after Cranswick announced the acquisition of Crown Chicken, a leading poultry producer based in East Anglia for £40m funded from existing banking facilities. Crown breeds, rears and processes fresh chicken for supply to the grocery retail, food service, wholesale and manufacturing channels and processes 450-500,000 chickens weekly, making it the sixth largest player in the UK. It also owns a well invested milling operating satisfying its feed requirements and 20 acres of land across East Anglia. Together with its earlier purchase of Benson Park, which handles 250,000 birds / week, the deal materially increases its position in this new market.For the year ended 31 December 2 ...

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