Greencore in fresh effort to mount Northern counter bid

CONVENIENCE food group Greencore has teamed up with a private equity firm in a fresh effort to mount a counter offer for Northern Foods, it has emerged.

The makers of Fox’s biscuits and Goodfella’s pizza agreed last month to back a bid worth 73 pence per share from businessman Ranjit Boparan, valuing the business at £342 million (€405m), and rejected a merger agreed in mid-November to join forces with Greencore.

The Irish group has since been in discussions with private equity groups over the past two weeks and has now teamed up with one unnamed partner about pursuing a potential deal, according to the Daily Telegraph’s online site.