Greencore sells bread firms for €30m

FOOD group Greencore has exited the bread making business in Britain by selling its remaining operations for €30 million.

But Greencore will only receive half of this money upfront and will need to wait five years to be paid in full. Chief executive David Dilger said the group's decision to quit the bread market was a positive development.

"This further sharpens the focus of our resources on our convenience food categories which have strong growth prospects and leading market positions," he said.