Gressingham duck owners behind two multi-million pound poultry deals in the last 12 months
PUBLISHED: 12:15 10 February 2016 | UPDATED: 13:53 12 February 2016
The owners of Gressingham Duck have been behind two multi-million pound deals in the last 12 months which will extend their influence in the poultry market.
William and Geoffrey Buchanan, whose parents founded the Woodbridge-based company in 1971, have bought East Tuddenham-based Autumn Foods and Reids of Norwich in separate deals for undisclosed sums.
The two brothers were appointed as directors to Autumn Foods Ltd in March last year, and a new company, Autumn Foods Holdings Ltd was incorporated in January last year.
Autumn Foods then bought Reids of Norwich in December in a bid to “further enhance its position as a leading provider of poultry and meat produce to the worldwide wholesale market”, with Geoffrey and William Buchanan appointed directors on December 23.
The deal was overseen by law firms Grant Thornton and Birketts.
Speaking at the time of the Reids of Norwich deal, Geoffrey Buchanan said: “This is the second deal we have completed with the Grant Thornton advisory team in a year and should effect a step change in our business, allowing us to achieve new levels of growth.”
Gressingham Foods, originally Green Label Foods, has gone from strength to strength in recent years to become a national brand and is a principal supplier of duck to the UK retail sector.
The family business is the only company in the world licensed to produce Gressingham Duck, a cross-breed of wild Mallard and Pekin.
William and Geoffrey Buchanan did not wish to comment further on the deals.
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