Carr’s Flour Mills is Carr’s Group’s food branch. “In a time of increasing competition and volatility from the flour market, consolidation is essential and inescapable. This acquisition by Whitworths presents a great opportunity for the food branch to keep on building on the strong foundations laid over many years. On behalf of the Carr’s board, I would like to thank everyone who has contributed to the division’s achievement.”
After an approach to acquire Carr’s food division, the board undertook a review of the group’s three branches. So as accelerate the returns of the group and to drive growth, Carr’s determined that it had been in the best interests of shareholders to proceed with the purchase. Investment and the group’s focus now will be based on growing engineering divisions and its farming.
In 2015 Carr’s food division’s operating profit was $3.1 million and its own earnings was $80.3 million. Carr’s three grinding facilities are located at the United Kingdom in Essex Cumbria and Fife, and utilize wheat imported from the United States, Canada and mainland Europe. Carr’s built a new mill at Kirkcaldy. The division currently employs staff members.
“Carr’s Flour Mills Ltd. shares a similar background to Whitworths in that it’s a long standing company which has obtained substance investment in the past several years,” explained Martin George, chairman of Whitworths Holdings Ltd. “The organization is a great fit geographically and provides us access into the South East, North of England and Scottish markets which would otherwise not be available, and means we have national reach.”