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French agri-food giant LDC has secured a majority stake in UK duck and speciality poultry producer Gressingham Foods, strengthening its manufacturing presence in the British market.
The transaction was completed with the Buchanan family, Gressingham’s founders, via their operating company Green Label Holdings.
The acquisition of Green Label Holdings, which employs around 700 staff, was reportedly valued at over £200 million ($266 million). The UK-based producer, headquartered in Suffolk, specialises in duck but also offers a diverse portfolio of turkey, goose, and guinea fowl, supplying all major UK retailers.
Detailed filings show that Green Label Holdings generated a turnover of £188 million (approx. $250 million) for the year ending 28th February, accompanied by an operating profit of £21.8 million (approx. $29 million). The business operates an extensive integrated supply chain, managing over 250,000 sq m of farms in East Anglia to cover approximately 50% of its poultry requirements.
The strategic partnership builds on LDC’s targeted European M&A strategy, following its entry into the UK market in 2021 with the acquisition of a majority interest in Welsh peer Capestone Organic Poultry.
Philippe Gelin, chief executive officer at LDC, commented that the companies “share strong, aligned values, and we are excited about the opportunities this will create for consumers, customers and our farming partners”,
Source: Just Food / LDC / Poultry Network
