Cranswick has increased its own pig production by 14% over the past year, following further significant acquisitions, as it delivered another major hike in revenues and profits.
The Hull-based company now has almost one million pigs on the ground at any one time, while also investing to grow its processing and manufacturing capabilities, including the recent £32m acquisition of sausage manufacturer, Blakemans.
Its preliminary results for the 52 weeks ended March 29, 2025, show 6.8% revenue growth (+6.4% like for like) to £2.723 billion, and a 14% leap in profits to £206.9 million.
Volumes were 7.7% ahead, reflecting a strong underlying performance across its core categories, supported by a strong outperformance of the company’s premium added-value product ranges and a record Christmas trading period.
Adjusted operating margin increased from 7.1% to 7.6%, reflecting ‘a strong contribution from growing agricultural, growing agricultural operations, excellent capacity utilisation and tight cost control’.
Fresh Pork revenue, accounting for 24.2% of group revenue, was 4% up year on year, with fresh pork export revenue 10.2% ahead, after the boost its Norfolk processing plant’s China licence being reinstated.
Poultry revenue was up by 20.3% driven by new cooked and prepared poultry retail listings.
Continued expansion
Cranswick also announced the £32m acquisition of Blakemans, a leading food service sausage manufacturer, completed on May 16, 2025.
Cranwswick CEO Adam Couch said he was delighted to announce the acquisition. “Blakemans is highly complementary to our existing added-value Gourmet business. We look forward to welcoming the entire Blakemans team to Cranswick and to working with them to develop the business further,” he said.
The company continued grow its pig herd during the reporting period, including the £24m acquisition of leading UK pig genetics business, JSR Genetics.
The transaction included JSR’s genetics and pig farming operations, which, Cranswick said, means it now has the capability to ‘offer our customers an end-to-end supply chain solution through which it can drive further productivity gains and quality improvements’.
It has further increased its self-sufficiency in premium, higher welfare, outdoor pigs with herds acquired in East Anglia, including the £4m purchase of outdoor pig business, Piggy Green, in June 2024, alongside continued investment in existing herds and farming infrastructure across its wider UK operations.
The acquisitions mean it has now trebled its own pig production over the past six years, making it the largest pig farming operation in the UK. Finished pig numbers increased by 14% year on year, with self-sufficiency maintained at well over 50%, despite growth in demand from its three primary processing facilities and downstream added-value pig meat operations.
The company now produces more than 36,000 finished pigs each week, with almost 1m pigs on the ground at any time, an increase of 19% on March 2024. It has also increased its self-sufficiency in pig feed milling to 20%.
Cranswick said: “We will continue to invest in our pig farming and feed milling operations to ensure that we have a secure supply chain in place to deliver improved UK food security for our strategic retail partners and consumers.”
It has certainly not all been plain sailing, however. In April, King’s Lynn & West Norfolk Borough Council Planning Committee unanimously rejected its application for a large pig and poultry unit in Norfolk.
Mr Couch said one of the most significant barriers to unlocking the business’s full potential was the ‘complexity and inefficiency of the current planning system’.
“Excessive bureaucracy conflicted with our objective to enhance UK food security and significantly delayed important projects such as the redevelopment and expansion of the Methwold and Feltwell farms in Norfolk, and the construction of a second poultry facility at Eye in Suffolk,” it said.
“These projects are essential prerequisites to enhancing capacity, improving food resilience, and meeting rising consumer demand. A more streamlined and responsive planning framework is, therefore, essential to unlocking capital investment, supporting job creation, and growing regional economies.”
The company has also announced a veterinary review of its animal welfare policies and livestock operations, following the wave of negative publicity as a result of an animal rights investigation on one of its units.
Long-term partnerships
Over the past year Cranswick has also strengthened farm-to-fork relationships with some major retailers.
This includes the recently-announced extension of the Tesco Sustainable Pig Group, securing Tesco’s supply chain for its Finest and core fresh pork and sausage ranges, and a 10-year sole supply agreement with Sainsbury’s that includes fresh pork, in addition to sausage, premium bacon and cooked meats ranges.
“These long-term partnerships give us, alongside independent farmers, the confidence to continue investing in British pig farming, ensuring further investment in leading animal welfare standards and farm productivity,” Cranswick said.
Processing investment
Cranswick’s updated highlighted a record capital spend of £138m across its operations to ‘enhance capabilities, increase efficiencies and improve food safety and quality’, including:
- £29m expansion of the two added-value Hull poultry sites commissioned and nearing completion
- £25m Worsley houmous and dips facility fit out progressing well with the initial phase commissioned
- £22m investment in incubatory capacity at the Kenninghall site and Eye throughput expansion underway
- £62m multi-phased expansion project at the Hull pork primary processing site progressing as planned, with £35m now committed to increase processing site capacity from 35,000 to 50,000 pigs per week.
Significant progress
Cranswick’s CEO Adam Couch said: “This year we have made significant strategic and financial progress delivering record revenue and adjusted profit before tax.
“We have also continued to make substantial investment across our industry leading asset base, our farming operations and in acquisitions to support our long-term growth ambitions.
“I would like to thank everyone at Cranswick for their unwavering dedication and support. Our continued successful performance in challenging market conditions reflects the talent, capability and determination of our colleagues across the business. “The culture we have fostered, centred around a clear ambition to deliver strong sustainable growth, will continue to be the key driver of our success over the long-term.
“We have made a positive start to the new financial year with the UK consumer continuing to recognise the quality, value and versatility of our pork and poultry product ranges.”