Acqn/Placing&Open Off-Summary

CRANSWICK PLC
6 September 1999


  PROPOSED ACQUISITION OF PETHICK & CO. LIMITED AND AN
               ASSOCIATED PROPERTY FOR AN
        AGGREGATE CONSIDERATION OF £15.5 MILLION
                            
                PLACING AND OPEN OFFER BY
                HSBC INVESTMENT BANK PLC
   OF 3,520,458 NEW ORDINARY SHARES AT 340P PER SHARE

Cranswick   plc  ('Cranswick')  announces  its   proposed
acquisition of the entire issued share capital of Pethick
&  Co.  Limited ('Pethick') and of an associated property
(the 'Associated Property').

* Pethick is a producer of premium quality hams which
  the  Directors of Cranswick believe will be a  valuable
  addition to and will complement Cranswick's existing food
  business. Pethick's customer base includes some of  the
  UK's  major supermarket retailers.  In the year  to  31
  January 1999, Pethick made sales of £13.8 million, pre-
  tax profits of £3.1 million, and, as at 31 January 1999,
  had net assets of £1.9 million.
  
* The  maximum  consideration for the acquisition  of
  Pethick and the Associated Property (the 'Acquisition')
  will be £15.5 million, with £2.0 million being satisfied
  through the issue of 588,236 ordinary shares of 10p each
  in  the  capital  of Cranswick ('Ordinary  Shares')  to
  certain Pethick shareholders ('Consideration Shares') and
  £13.5  million being satisfied in cash, which is to  be
  partly  financed  from the issue of 3,520,458  Ordinary
  Shares ('New Ordinary Shares') under a placing and open
  offer  ('Placing and Open Offer').  The balance of  the
  cash consideration will be funded though bank facilities.
  
* Under the share purchase agreement between Cranswick
  and  Pethick's shareholders (the 'Vendors'), the  total
  consideration may be reduced depending on the level  of
  Pethick's pre-tax profit in respect of the period from 1
  February  1999  to 4 September 1999, and Pethick's  net
  assets as at 4 September 1999.
  
* The  Placing and Open Offer is at 340p  per  share,
  representing  a 4.9 per cent. discount to  the  closing
  middle-market price of an Ordinary Share on 3 September
  1999  and  will raise £11.2 million, net  of  expenses.
  Qualifying Shareholders will be invited to subscribe for
  New Ordinary Shares on the basis of 6 New Ordinary Shares
  for every 25 existing Ordinary Shares held on 1 September
  1999.
  
* The  Acquisition  is  expected  to  be  immediately
  earnings enhancing before the amortisation of goodwill,
  and  is  conditional, inter alia, on  the  approval  of
  Cranswick shareholders.
  
* Following the completion of the Acquisition,  David
  Pethick will be joining the board of Cranswick.   David
  Pethick and the other Pethick directors will be employed
  under  new service contracts with Pethick for a minimum
  term of three years.
  
* Dealings in the New Ordinary Shares are expected to
  commence on 6 October 1999.
  
* The sponsor, broker and underwriter to Cranswick is
  HSBC  Investment Bank plc, which has fully underwritten
  the Placing and Open Offer.
  

Martin Davey, Chief Executive, said:
'The  acquisition  of  Pethick represents  a  significant
opportunity  for Cranswick and continues our strategy  of
making earnings enhancing acquisitions.  We welcome David
Pethick and his co-directors and colleagues to the  Group
and  look  forward  to  the continuing  progress  of  the
enlarged Cranswick Group.'





Enquiries:
Cranswick plc                            01377 - 270 649
Martin Davey, Chief Executive
John Lindop, Finance Director

HSBC Investment Bank plc                 0171 - 336 9000
John Mellett, HSBC Growth Companies
John Hannaford, HSBC Securities

Paternoster Partnership                  0171 - 336 7776
Paul Quade



This announcement does not constitute an offer to sell or
to  subscribe for, or the solicitation of an offer to buy
or to subscribe for, ordinary shares in Cranswick plc and
is  not  for  distribution in or into the United  States,
Canada,  Australia,  Japan, the Republic  of  Ireland  or
South   Africa   or  their  respective   territories   or
possessions.  Any purchase of or application for Ordinary
Shares in Cranswick plc should only be made on the  basis
of  information contained in the circular to shareholders
comprising  a  prospectus issued in connection  with  the
Placing and Open Offer.

This  announcement, for which the directors of  Cranswick
plc  are  solely responsible, has been approved  by  HSBC
Investment  Bank plc, which is regulated  in  the  United
Kingdom  by the Securities and Futures Authority Limited,
solely  for  the purposes of section 57 of the  Financial
Services Act 1986.

HSBC  Investment Bank plc is acting solely for  Cranswick
plc  and  no-one else in connection with the  Acquisition
and  the  Placing  and  Open  Offer,  and  will  not   be
responsible  to  anyone  other  than  Cranswick  plc  for
providing the protections afforded to customers  nor  for
providing advice in relation to the Acquisition  and  the
Placing and Open Offer.

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