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Faccenda to buy duck supplier Cherry Valley Foods
Faccenda Foods is set to further extend its portfolio after agreeing to buy Lincolnshire-based Cherry Valley Farms duck processing business Cherry Valley Foods.
Cherry Valley Farms, which employs 320 staff and posted a turnover of £45m last year, is one of only two major duck processors in the UK. Its facilities include a factory is Caistor, supported by a local agriculture operation of farms and a hatchery.
The deal is the latest in a number of major investments by Faccenda, including its move into the turkey market in 2012 with the acquisition of Cranberry Foods, and the building of a £35m advanced processing plant in Telford that becomes fully operational next year.
The acquisition is due to be completed by the end of December. Faccenda said it would strengthen its market position as the only UK supplier of Chicken, Turkey and Duck, and would create further opportunities for growth in all three areas across a broader customer base.
