Greencore Group PLC Acquisition (5772K)
23 8월 2012 - 3:00PM
UK Regulatory
TIDMGNC
RNS Number : 5772K
Greencore Group PLC
23 August 2012
23 August 2012
GREENCORE ANNOUNCES A BOLT-ON ACQUISITION IN UK READY MEALS
Greencore Group plc ("Greencore") today announces that it has
acquired International Cuisine Limited ("ICL"), a private label
chilled ready meal business, from the Hain Daniels Group in the UK.
ICL's ready meal facility is based in Consett (County Durham) and
the majority of its revenue (approximately GBP45m) is derived from
several existing Greencore ready meal customers. The acquired
facility will also provide additional capacity for Greencore in the
ready meals category in the UK, which continues to show strong
growth. The gross assets acquired were GBP16.7m.
The transaction will be funded from existing debt facilities and
will have a minimal impact on the Group's leverage which we still
anticipate will remain below 3.0 times at end September 2012 on a
net debt to EBITDA basis.
For further information:
Alan Williams Chief Financial Tel: + 353 1
Officer 605 1018
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Rob Greening / Powerscourt Tel: + 44 207
Lisa Kavanagh 250 1446
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Notes to Editors
1) Greencore:
- A leading international producer of convenience food
- Leading manufacturer in the UK convenience food market across
sandwiches, chilled prepared meals, chilled soups and sauces,
ambient sauces and pickles, cakes, desserts and Yorkshire
puddings
- Extending presence outside the UK with an emerging convenience food business in the US
2) The Hain Daniels Group in the UK is part of The Hain
Celestial Group, Inc., a leading natural and organic products
company
3) Historical financial information for ICL is extracted from unaudited management accounts
This information is provided by RNS
The company news service from the London Stock Exchange
END
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