Cranswick acquires pig genetics firm JSR

Hull-based meat processing giant Cranswick plc published an update on trading for the 13 weeks to December 28, 2024, and anounced the acquisition of East Yorkshire-based JSR Genetics Limited from JSR Farms Limited. 

The transaction includes the pig genetics and pig farming operations of JSR Farms Limited.  

Whilst we remain cautious about current market and wider geopolitical and economic conditions, the outlook for the current financial year ending 29 March 2025 remains in line with current market expectations,” said Cranswick.

The company said market expectations are for adjusted profit before tax range between £189 million and £195.1 million.

On the acquisition, Cranswick said: “JSR Genetics is a leading UK based pig genetics company, located in East Yorkshire and is renowned for its innovative genetic solutions for cost effective pig production.

“Genetic improvement is centred around sustainability and efficiency. Extensive research and innovation deliver pig genetics with a continuous improvement in production efficiency, meat quality, animal health and robustness.  

“JSR Genetics is an existing, long-standing, valued supplier to Cranswick.”

On current trading, Cranswick said: “Strong revenue growth during the period was again underpinned by excellent volume growth across our core UK food business, as customers and the UK consumer continue to appreciate the affordability, value for money and versatility of our core pork and poultry categories. 

“Our premium value-added products performed extremely well, contributing to a record festive trading period performance.

The group’s expanded pig farming and milling operations continue to contribute positively and will be further strengthened by the acquisition of JSR Genetics which we are announcing today and is set out in more detail below.

On 3 December 2024, we received the positive news that the China export licence at our Norfolk primary processing facility had been reinstated after a four-year hiatus. A full range of products started being shipped to China from early January.”

On investment, Cranswick said: “Our substantial ongoing capital investment programme continues to add capacity, drive automation and deliver efficiency improvements.  

“We are accelerating the pace at which we deploy capital to drive attractive and industry leading returns and we now expect full year capital expenditure to be ahead of our previous guidance.”

Cranswick CEO Adam Couch said: “We have delivered a record Christmas trading period underpinned by outstanding service levels and sector leading innovation across our festive product range. I would like to thank all our colleagues for their continued dedication and support in delivering this excellent performance.

I am delighted to announce the acquisition of JSR Genetics, a leading pig genetics supplier and commercial pig producer based in East Yorkshire. 

“This acquisition increases the scale of our indoor pig production, further securing supply for our customers’ pork requirements. 

“The addition of an integrated pig genetics supply chain will allow us to drive ongoing improvements in production efficiency, meat quality, animal health and robustness, for the long-term benefit of our customers and the UK consumer.

“As we look ahead to the new financial year, we will need to manage the well-publicised inflationary pressures alongside wider economic uncertainty and food security risks, but our business is in great shape, and we are well placed to successfully manage the challenges that may lie ahead.”