Meaty deal for Spam producer Tulip
Processed meat producer Tulip, based in Warwickshire, has bought Yorkshire food manufacturer Parkam Foods.
Tulip, whose brands include Spam, Danepak bacon and Stagg chilli, has snapped up Liversedge-headquartered Parkam. The company consists of four companies - Parkam Foods, Tranfoods, Trophy Foods and Freshway.
Parkam employs a 750-strong workforce with revenue for the current financial year expected to exceed £100m.
Tulip, which recorded £1.1bn of sales last year, said the acquisition would add new products to its portfolio. It also hoped the move would increase its sales to the biggest UK retail chains.
In addition to cooked meats, sandwiches and sausages, Parkam also produces products based on beef, turkey and chicken which Tulip said will add "a new and valuable dimension" to its business.
Tulip chief executive Steve Murrells said the challenge after completion of the deal was how to exploit the synergies arising from the acquisition of Parkam.
According to Tulip, Parkam will help it strengthen its position in the premium sector.
