Shropshire pork pie giant ready for a tasty takeover
One of the biggest names in savoury pastries – which has a site in Shropshire – has moved a step closer to taking over a rival.
Pork Farms Group, which has a branch in Market Drayton, has been given the green light to proceed with the takeover of the chilled savoury pastry business of Kerry Foods.
The Competition and Markets Authority (CMA) has announced its formal decision to clear Pork Farms Group's acquisition of the business.
Bosses say the move will provide it with two additional sites – one in Spalding, Lincolnshire, and the other in Poole, Dorset – giving the group greater depth and breadth in the chilled savoury pastry category.
They add the deal also allows the group to further invest in facilities, insight and innovation to develop its product set into chilled convenience categories.
The cost of the deal and exactly how it will affect the firm's site in Market Drayton are not yet known.
Kerry Foods is part of the Kerry Group, which also includes Kerry Ingredients & Flavours that has a base in Burford, near Tenbury Wells.
Chris Peters, group managing director at Pork Farms Group, said: "The CMA's decision marks the start of an incredibly exciting new time for our business and our employees.
"The acquisition gives our business greater capabilities and opportunities for the future, allowing us to expand our product range through innovation and consumer insight delivered by a strong and talented team.
"Following the CMA's formal clearance, our priority is to move ahead to integrate the Spalding and Poole businesses into the Pork Farms Group.
"We will now take stock of our entire business, taking into account our employees', customers', owners' and suppliers' needs, to help us define the future direction of the new group and fulfil opportunities in what is an exciting and pivotal time in the UK chilled food market."
Walls Pastries and Millers will now join the Pork Farms Group stable of brands, which include Pork Farms, Bowyers, No G and Farmhouse.
As well as branded goods, it supplies own label products to supermarkets.
The deal was first proposed in August last year, and fears that the enlarged business might dominate the market prompted an inquiry by the CMA.
In its final decision, the CMA said: "The merger has not resulted, and may not be expected to result, in a substantial lessening of competition, and hence higher prices or lower quality for retailers or consumers of the products affected by the merger."
