Crisp Malting snaps up European rival - but remains committed to Norfolk
PUBLISHED: 09:29 19 February 2016 | UPDATED: 09:29 19 February 2016
The managing director of malt producer Crisp Malting has underscored the group’s commitment to Norfolk in the wake of its multi-million pound deal to snap up a European rival.
Euan Macpherson said the acquisition of Tivoli Malz and its subsidiaries Germany-based GlobalMalt Group in Hamburg, and GlobalMalt Polska based in Poland, would help the group service its international customers.
“All three companies have their different strengths,” said Mr Macpherson, who remains in charge of the enlarged business. “We will be able to capitalise on their success.”
But he said the head office would remain in Great Ryburgh, near Fakenham. “This is a Norfolk business going forward,” he added. “We have no plans to uproot.
“The new business will be run from Norfolk as well but we’re not anticipating any movement of staff or management.”
Financial details of the deal between Crisp Malting Group’s parent company Anglia Maltings (Holdings), which is also in charge of malt-producer Edme, were not revealed.
The group said Tivoli’s annual capacity of 180,000 tonnes of malt would bolster its current production of 250,000 tonnes of ingredients and increase efficiencies.
It will also bring currency benefits and help it better service its global customers such as SABMiller, Carlsberg and InBev, according to Mr Macpherson.
He added: “It brings the business two sizes up. Because of the consolidation of the brewing world, big companies have breweries in different countries. We can serve them from different regions.”
According to the latest available accounts on Companies House, Anglia Maltings (Holdings) saw turnover drop from £124m in 2013 to £116.9m to the end of December 2014, as the firm felt the impact of a 5.8pc fall in the average selling price of malt and 4.9pc drop in malt sales tonnage.
But pre-tax profits surged 33.5pc to £13m thanks to a better performance from Crisp Malting Group.
Anglia Maltings (Holdings) employs about 240 people in the UK and the acquisition brings an additional 85 people to the company.
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