Goodman firm makes UK acquisition

The UK arm of Mr Larry Goodman's Irish Food Processors has bought a major Scottish sausage manufacturer.

The operation, based in Glasgow, was formerly owned by Freshbake Foods, which went into administrative receivership last month. The company, which employs 220 people, supplies frozen sausages to many of the UK's supermarket chains.

Irish Food Processors, 100 per cent owned by Mr Goodman, bought the company through its UK subsidiary Anglo Beef Processors Ltd. No price was disclosed.

A spokesman for the British subsidiary said: "We have been enthusiastic to gain a foothold in sausage manufacture and the Glasgow plant gives us a base from which to quickly expand production in both frozen and fresh sausage manufacture. We see great potential in this sector."

Anglo Beef Processors has 14 plants handling fresh and frozen beef and lamb products. Three are in Northern Ireland, three in Scotland and the rest in England.

The company, which has invested £50 million (€75.3 million) in its UK processing operations in the past six years, says it processes 15 per cent of all UK beef and is a major processor and exporter of lamb.

Anglo Beef reported turnover of more than £408 million in the year to the end of March 2003, with operating profits of €8.1 million. Freshbake reported sales of £53 million in its most recent accounts, covering the year to September 28th, 2002.