Tue, 15 Oct 2024 | DIVISION SALE
Manchester-based Creamline Dairies has its sights set on further expansion after buying distribution sites from a Liverpool rival.
The Trafford Park headquartered business, which has been in operation for nearly 80 years, has bought three depots from Mortons Dairies adding 56 staff and four franchisees into its company.
The six-figure deal is set to complete next month giving Creamline the potential to deliver its products, often ordered online, to 15,000 more households and over 450 more local businesses. These include milk, fruit and vegetables, deli delicacies such as chutney and jam, fresh fish and meat.
According to its most recent accounts filed to Companies House for the year to September 30th, 2023 the company recorded a turnover of £36.1 million, up from £33.5 million the previous year. It posted an operating profit of £1.6 million, up from £521,000.
The company, led by joint managing director Chris Swallow, said it had been boosted by consumers looking for both convenience and ‘authentic local goods’ delivered to their homes. It added that environmental concerns over single use plastic had also led to more demand for old-fashioned re-usable glass milk bottles.
Creamline projects the deal will help it and its now 310 strong team across seven depots hit a £45 million turnover in the next 12 months.
Its extended network of depots now covers Ashton in Makerfield, Chester and the Wirral, on top of its existing operations in Trafford, Eccles, Warrington, Kendal and Stockport. It is also planning a new B2B online service and consumer app.
“We're extremely excited about this potential deal as it doubles down on our strategy for growth in the North West,” said Swallow. "Ultimately, it's our mission to be the most consistently successful independent dairy company in Britain in terms of our service levels, product quality and profitability. Acquiring the business from Mortons will strengthen our service to businesses and consumers alike, as well as our online offering.”
Find out more about the trends shaping M&A activity in the UK's food and beverage sector
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