Danish Crown Group subsidiary Tulip has agreed to acquire UK-based pig producer Easey Holdings.

Financial details of the deal have not been revealed by either party.

Tulip is currently awaiting regulatory approval from the Competition & Markets Authority in the UK.

Easey Holdings is a family-owned company, engaged in pig farming operations.

The operations are segregated in four divisions namely breeding herds (sows), growing herds, a veterinary practice and a livestock transport business.

“This announcement reflects the significant progress being made with Tulip’s new strategic direction."

Tulip farming division agriculture director Andrew Saunders said: “Customer demand is rising for pigmeat produced to high-welfare standards supported by strong provenance credentials.

“This acquisition forms part of Tulip’s strategic objective to further support the UK pig farming industry, allowing us to more effectively utilise our skills and expertise, capitalising on our industry-leading best practices which have been developed by farmers, vets and other experts within the organisation.”

Saunders further explained that Easey Holdings will continue to operate as an independent unit and all the existing employees will be retained.

The UK market is reported to be one of the important markets for Danish Crown and the investment further reflects the firm’s intent to further bolster Tulip’s sustainable growth.

Danish Crown CEO Jais Valeur said: “Tulip has now successfully completed its profit turnaround and is focusing on cementing the significant progress made during the last year and is planning for the future. This acquisition is in that context and is part of a range of measures designed to Brexit-proof the business.

“This announcement reflects the significant progress being made with Tulip’s new strategic direction, demonstrating the company’s core values, passion for food and passion for farming.”