Greencore to sell malt firm for €116m

GREENCORE is to sell its malt business to Axéréal Union De Coopératives Agricoles for €116.25 million.

Souffle Group, another major player in the French malting business, had been lead contender to buy the business but is understood to have backed out of the deal due to differences over property transfers and the depressed global market.

The Irish-listed group said assets of about 50 acres are excluded from the deal, including lands at Athy, Co Kildare, which were part of Minch Malt.