This acquisition extends Greencore's presence in the high-growth food-to-go category outside of its current core business with large grocery customers.
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The food-to-go manufacturer produces a range of products for the convenience and food service channel. It had revenues from its manufactured products of £42m in the year ended 31 March 2016. It has a single manufacturing facility at Atherstone in Warwickshire, UK.
Greencore CEO Patrick Coveney said: "This acquisition makes strong strategic sense for Greencore, given our ongoing focus on the food to go market. The Sandwich Factory will extend our reach into customer channels in which we are currently under-represented, notably convenience stores and the travel sector, and will also bring new product types into the Greencore portfolio.''
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This acquisition extends Greencore's presence in the high-growth food-to-go category outside of its current core business with large grocery customers. It also increases overall capacity across Greencore's total food-to-go facilities. The transaction is expected to be neutral to earnings in the 2016 financial year and will modestly boost earnings thereafter.
In May, Greencore reported an 8.5% increase in first-half operating profit to £43.5m (€55.2m), driven by continued strong growth in its UK and US food-to-go business.
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The food-to-go manufacturer produces a range of products for the convenience and food service channel. It had revenues from its manufactured products of £42m in the year ended 31 March 2016. It has a single manufacturing facility at Atherstone in Warwickshire, UK.
Greencore CEO Patrick Coveney said: "This acquisition makes strong strategic sense for Greencore, given our ongoing focus on the food to go market. The Sandwich Factory will extend our reach into customer channels in which we are currently under-represented, notably convenience stores and the travel sector, and will also bring new product types into the Greencore portfolio.''
This acquisition extends Greencore's presence in the high-growth food-to-go category outside of its current core business with large grocery customers. It also increases overall capacity across Greencore's total food-to-go facilities. The transaction is expected to be neutral to earnings in the 2016 financial year and will modestly boost earnings thereafter.
In May, Greencore reported an 8.5% increase in first-half operating profit to £43.5m (€55.2m), driven by continued strong growth in its UK and US food-to-go business.
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