After two failed attempts, Irish convenience food manufacturer Greencore has managed to offer up a suitable bid for London-listed rival Bakkavor. The deal, if ratified, will create a £4 billion (€4.75 billion) food-to-go behemoth that provides the likes of grocery brands Tesco, Sainsbury’s, and Ocado with thousands of different ready-made products ranging from sandwiches and pizzas to salads and desserts. Dublin-headquartered Greencore had been rebuffed twice by Bakkavor in recent months but on Wednesday, the companies informed stock exchanges that they had reached an “agreement in principle” on a £1.2 billion deal. The offer, which is subject to shareholder approval…
Cancel at any time. Are you already a member? Log in here.
Want to continue reading?
Introductory offer: Sign up today and pay €200 for an annual membership, a saving of €50.