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Greencore Completes Peacock Foods Acquisition

 

Irish convenience foods giant Greencore has announced that it has completed its takeover of US operator Peacock Foods.

On 30 December, Dublin, Ireland-based Greencore issued a statement on its website that 'Further to its announcement of 14 November 2016, Greencore, a leading international convenience food business, is pleased to announce the completion today of the acquisition of Peacock Foods.'

The value of the acquisition is $747.5 million, and commenting on the deal back in November, Greencore said that it would enable the business to 'transform' its market and channel positioning in the US, and 'create a strong platform for long term profitable growth'.

In addition, Shore Capital's Darren Shirley added that the deal will "materially increase [Greencore's] exposure to the broader USA retail market, which will augment its growing presence in the convenience and coffee-shop markets."

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