A leading UK poultry processor has been snapped up by the US owners of Moy Park.
Chicago-based OSI announced the acquisition of GW Padley Poultry this week for an undisclosed sum.
The move brings additional financial support to the UK poultry industry at a time when it is in dire need, with static retail prices creating real problems for farmers, said a spokesman.
The company operates processing plants at Grantham, Wisbech, Anwick and Bury St Edmunds. They supply own label and branded frozen and chilled chicken products to major multiples and food service businesses.
Padley’s, which was set up in the 1950s, clocked up sales of £250m in the last full year and employs 3,500 people.
A six month review of the new acquisition has now been launched by OSI, which has also announced plans to retain the Padley’s brand and invest.
No staff changes have so far been announced, but OSI’s UK management team is in ongoing consultations with all its staff.
David Hart, MD of Padley’s said: “It will be business as usual for all the key retailers. The company has been bought to develop and grow.”
The acquisition follows OSI’s purchase of poultry supplier Moy Park in 1996. It said the combination of Padley’s and Moy Park would help it compete in a market where four retailers command more than three quarters of poultry sales.
Overall, the two companies have 11 factories in England, Northern Ireland and France and boast total sales of £600m.
Chicago-based OSI announced the acquisition of GW Padley Poultry this week for an undisclosed sum.
The move brings additional financial support to the UK poultry industry at a time when it is in dire need, with static retail prices creating real problems for farmers, said a spokesman.
The company operates processing plants at Grantham, Wisbech, Anwick and Bury St Edmunds. They supply own label and branded frozen and chilled chicken products to major multiples and food service businesses.
Padley’s, which was set up in the 1950s, clocked up sales of £250m in the last full year and employs 3,500 people.
A six month review of the new acquisition has now been launched by OSI, which has also announced plans to retain the Padley’s brand and invest.
No staff changes have so far been announced, but OSI’s UK management team is in ongoing consultations with all its staff.
David Hart, MD of Padley’s said: “It will be business as usual for all the key retailers. The company has been bought to develop and grow.”
The acquisition follows OSI’s purchase of poultry supplier Moy Park in 1996. It said the combination of Padley’s and Moy Park would help it compete in a market where four retailers command more than three quarters of poultry sales.
Overall, the two companies have 11 factories in England, Northern Ireland and France and boast total sales of £600m.
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