Greencore and Northern Foods agree to merge
The future CEO of Essenta, the company to be formed through the merger of food manufacturers Northern Foods and Greencore, said today (17 November) he was "excited" by the planned deal.
The news this morning (17 November) that Irish ready-made meals supplier Greencore and Fox's biscuits group Northern Foods are to merge has been applauded by the City.
Irish ready-made meals supplier Greencore returned to profit for the full-year boosted by a strong performance in the firm's convenience division.
Irish ready-meals supplier Greencore and Fox's biscuits group Northern Foods have agreed to merge in a transaction that will create a company with annual sales of around GBP1.7bn (US$2.7bn).
Questions surrounding the future direction of UK food manufacturer Northern Foods intensified this week as the company confirmed a raft of job cuts as part of a major organisational restructure.