The deal, for an undisclosed sum, was confirmed between the two companies as the German company aims to strengthen its position in the UK market.
According to German media, the move was prompted by Tönnies to safeguard its trade with the UK in preparation for Brexit.
Riverway Foods was founded in 1971 in Essex, UK by the Crosby family and is known for producing Cumberland sausages, distributed nationwide in retailers and foodservice outlets.
Tönnies described Riverway Foods’ products as a “great fit” for its meat portfolio.
“Together with the Crosby family, we want to expand our market share in the UK,” said Tönnies managing director for the UK market Carsten Jacobsen. “Riverway Foods’ quality products are a great fit with our other Becketts and Direct Table products.”
The acquisition is set to boost Tönnies Group’s consolidated sales, which amounted to €6.9bn during 2018. The firm, which employs around 16,500 workers across the group, also slaughtered 20.6m pigs and 432,000 cattle this year.
Several international organisations have tapped the UK market for meat recently, including Irish processing business Kepak acquiring Boparan Holdings’ 2 Sisters Red Meat division and New Zealand farming cooperative Alliance launching premium lamb into the UK.
GlobalMeatNews has contacted Riverway Foods and Tönnies Group for further comment on the deal.