Avonmore Foods has exercised its option to acquire the entire share capital of the British processed meats group Beni Foods, an acquisition that will cost Avonmore a total of £54 million. Initially, Avonmore bought 10 per cent of Beni last May for £5.4 million with an option to acquire the balance for a total of £48.8 million. This option has now been exercised and Avonmore will acquire the outstanding shares in three annual tranches of £10.8 million followed by a final payment of £16.3 million.