Greencore shares surge on US growth outlook

Greencore has upped the medium-term revenue capacity of its US operations by more than $1bn on the back of its biggest acquisition in a decade.

The Dublin-headquartered convenience food group’s $747.5m (€697.4m) purchase of US company Peacock Foods will significantly enhance Greencore’s US business and boost its American revenue capacity in the next five years from around $700m to $2bn.

As is, Peacock ups Greencore’s US revenues from around $325m to $1.3bn.