Cranswick plc (LSE:CWK) will look for M&A. Mark Bottomley said during the Financial Year '24 Results Presentation, "We'll invest our investment-grade balance -- sorry, we will maintain our investment-grade balance sheet with a target leverage of less than 2x net debt to EBITDA. And we'll maintain a progressive dividend policy with cover of at least 2.5x EPS to DPS. Our cover this year was 2.7x with a 13.4% growth in dividend per share.

And we'll continue to explore complementary targeted bolt-on M&A with the returns ahead of our group WACC. And as we've already talked about, we successfully delivered 2 of those projects this year, and we'll look for more as we go forward".