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Greencore's Bakkavor takeover clears CMA hurdle
(Sharecast News) - Convenience food producer Greencore on Friday said Britain's competition regulator has accepted in principle its proposed remedy to secure approval for its acquisition of rival Bakkavor. Under the proposed remedy Greencore will sell its Bristol chilled soups and sauces manufacturing site. The company said it is currently engaged with a number of prospective purchasers.
The Bristol site and its related business generated revenues of about £47m in the year to September 30, about 1% of the revenues of the combined group.
"The CMA's acceptance in principle of the remedy is really good news and means we can now look to complete the Bakkavor deal in early 2026," Greencore chief executive Dalton Philips said onFriday.
"In parallel, our focus is on finding the right new owner for our Bristol business. It's been great to see such strong interest shown in what is a fantastic chilled soups and sauces operation, and I'm highly confident we'll get a good outcome here."
Bakkavor CEO Mike Edwards said the company's integration plans are well progressed, and it will continue to work collaboratively with Greencore to ensure a quick and smooth transition following completion.
"Together, the combined group's scale will enable us to create even more opportunities for colleagues, deliver even better quality, service and innovation for our customers, and generate value for our shareholders," he added.
Reporting by Frank Prenesti for Sharecast.com
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