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Retail Intelligence

Greencore Completes Peacock Foods Acquisition

By Donna Ahern
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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