Greencore: More US acquisitions not being ruled out

Greencore hasn’t ruled out the prospect of making more acquisitions in the US as part of its ongoing growth and investment strategy.

The convenience food group’s US operations mainly sees it provide sandwiches and other food products to the Starbucks and 7-Eleven chains. It saw revenues increase 25% in the year to the end of last September, to around €240m, and make up about 15% of group sales.

Via previous acquisitions and greenfield site constructions, Greencore now operates seven manufacturing facilities in the US, servicing 25 states. Its Jacksonville, Florida, a facility will generate revenues of around $100m (€88m) this year and when new sites in Rhode Island and Seattle are fully operating, Greencore’s US interests will have the capacity to generate annual revenues of around $700m.