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Greencore seals deal for Bakkavor as H1 profits surge
- Greencore agreed to acquire Bakkavor in a £1.2 billion cash-and-shares deal announced in May 2025, combining their UK and international food businesses.
- After several months of talks and initial rejections by Bakkavor, the agreement was reached to form a major UK food-to-go company with combined annual sales around £4 billion.
- The combined group will employ about 30,500 staff, supply major UK supermarkets, and offer complementary 'food for now' and 'food for later' portfolios to boost innovation and consumer choice.
- Dalton Philips emphasized that the merged company will have increased capacity to innovate and develop products, allowing them to offer a wider variety of food options to customers throughout the day, combining Greencore’s expertise in ready-to-eat meals with Bakkavor’s strengths in made-to-order food.
- While the firms expect few material redundancies, they plan to save at least £80 million annually by reducing duplicate operations, and up to 5% of the workforce could be cut mostly through natural attrition.
17 Articles
17 Articles
Greencore to acquire Bakkavor in £1.2 billion deal | Manufacturing & Supply Chain
The Boards of Greencore and Bakkavor have agreed the terms of a recommended acquisition of Bakkavor in a deal that will create a leading UK convenience food manufacturing business with a combined revenue of about £4 billion and a workforce of approximately 30,500 employees. Greencore and Bakkavor have highly complementary product portfolios and a combination of their businesses creates a leading, homegrown UK manufacturing business with a divers…
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…
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