The former chief executive of Largo Foods, which makes Tayto, Maurice Hickey, has reportedly entered exclusive talks to buy the remaining Green Isle business.
It is believed that the planned sale of the assets by UK food baron Ranjit Singh Boparan's 2 Sisters Food Group, includes Donegal Catch, Green Isle's frozen-food business, a manufacturing site in Portumna, Co Galway, and the Green Isle brand itself, reports the Irish Independent.
In February of this year, it was announced that The UK food manufacturing company was reportedly looking to sell its Donegal Catch frozen fish business with a price tag of in the region of €57 million.
Goodfellas Pizza Sale
On the 24 April this year, Nomad Foods Ltd. confirmed that it has completed its acquisition of Green Isle Foods Ltd - the manufactor and distributer of Goodfella's Pizza from a subsidiary of Boparan Holdings Ltd.
According to a statement from the Birds Eye owner, the purchase price of £200 million is 'subject to customary working capital adjustments'.
The purchase was reportedly funded through cash on hand.
Green Isle is one of Ireland’s largest consumer foods manufacturers, employing 750 staff.
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.