US EditionGreencore seals deal for Bakkavor as H1 profits surge
- Greencore has agreed a £1.2 billion cash-and-shares deal to acquire Bakkavor, creating a large UK convenience food group in 2025.
- The takeover follows months of negotiations and earlier rejected offers, with both companies citing strategic and financial benefits of the combination.
- The combined business will employ around 30,500 staff across the UK, US, and China, with annual sales expected to reach about £4 billion.
- Dalton Philips, Greencore CEO, said the merger will unite Greencore's 'food for now' expertise with Bakkavor's 'food for later' portfolio to expand food choices through investment in innovation.
- The companies plan cost savings including up to 5% workforce reduction via site closures and back office rationalization, while the deal awaits regulatory and shareholder approval for early 2026 completion.
16 Articles
16 Articles
Greencore Agrees £1.2 Billion Takeover Of Bakkavor
Convenience food manufacturer Greencore has confirmed a recommended offer to acquire UK fresh food provider Bakkavor Group in a deal valued at £1.2 billion ($1.59 billion), marking a major consolidation in the UK chilled food sector.In a statement released on Thursday (15 May), Greencore said the deal comprises a cash and share offer, valuing each Bakkavor share at 200 pence. The offer includes 85 pence in cash and 0.604 new Greencore shares per…
Greencore Takes Over Bakkavor for £1.2B - USA Herald
Greencore Group PLC, Ireland’s leading sandwich and convenience food producer, announced today that it has entered into a definitive agreement to acquire Bakkavor Group PLC, a major UK ready-to-eat meals manufacturer, in a cash and share transaction valued at approximately £1.2 billion ($1.6 billion). The transaction, which Greencore describes as a strategic move to create
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