Management buyout still possible for Greencore, says stockbroker

FOOD manufacturer Greencore could yet be partly acquired by its own staff, with London-based Shore Capital Stockbrokers yesterday assessing that a management buyout was still one clear possibility.

The Irish food group has already said it has received one takeover approach. Shore Capital’s Clive Black yesterday issued a market report suggesting that Greencore could opt for either the takeover, a management buyout or even a mixture of both.

While Greencore is currently finalising its acquisition of British-based sandwich and dessert manufacturer Uniq, investors on the London Stock Exchange yesterday reacted positively to the group’s activities, with the share price climbing 3%-10% at various stages, and staying above 71c per share for most of the day.