NETHERLANDS: Greencore to sell Dutch unit
Ireland-based food group Greencore is set to sell Dutch convenience foods business Greencore Continental to local firm Convenience Foods Europe.
Greencore said today (15 July) that the planned sale of the pizza and sandwich firm, for an undisclosed sum, fits its strategy of focusing on the UK and the US.
"We are pleased to announce this proposed disposal, which, if completed, is in line with our strategy of developing an industry leading position in convenience foods in the United Kingdom supplemented by a growing convenience foods business in the United States," said Greencore chief executive Patrick Coveney.
The sale of Greencore Continental, which generated sales of EUR58.2m (US$74.41m) for the year to 25 September, requires approval from the Dutch competition authorities but Greencore said it expects the deal to go through by 30 August.
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