Financially troubled United Kingdom poultry company Banham Poultry has been acquired be fellow U.K. business Chesterfield Poultry.
Banham Poultry had been in administration, with Allan Graham and Trevor Birch of Duff & Phelps appointed joint administrators of Banham Poultry Ltd and Banham Group Ltd on October 5, reported Insider Media. With the sale, about 1,000 jobs have been saved.
According to the WATTAgNet Top Poultry Companies Database, Banham Poultry supplies chicken to major supermarkets, other established stores and wholesalers throughout the United Kingdom. The company also has its own transport department covering live, chilled, and frozen products. About 55 percent of production is whole birds and 45 percent is portions.
Chestefield Poultry, according to a report from the Eastern Press, is headquartered in Chesterfield, Derbyshire. It is a meat processor and wholesaler that supplies halal chicken to U.K. businesses. The company processes about 1.2 million birds on a weekly basis. The acquisition of Banham Poultry will enable it to nearly double its production, as Banham processes about 1 million birds weekly.
We are delighted to welcome Banham into the Chesterfield family and look forward to continuing the legacy of the brand and quality poultry production in Attleborough," Nadeem Iqbal, chief executive of Chesterfield Poultry told Insider Media.
Busy time for mergers and acquisitions
Chesterfield’s acquisition of Banham Poultry is one of a handful of acquisitions in the poultry and animal feed industries to be announced in October alone. So far this month, the following acquisitions and planned acquisitions have been announced:
- Cal-Maine Foods revealed plans to acquire Featherland Egg Farm
- Maple Leaf Foods signed an agreement to acquire VIAU Foods
- Wilbur Ellis Feed acquired the assets of America-Pac Inc.
- ForFarmers acquired Van Gorp Bilogische Voeders and Voeders Algeet in Belguim
In addition, WATTAgNet reported on activity concerning nine industry mergers and acquisitions during the month of September.