Confident Greencore eyes further US expansion

Greencore is confident of adding to its customer base in the US — where it currently provides food products to the likes of Starbucks and 7-Eleven — on the back of growing capacity there.

Greencore’s management views last year’s near €700m acquisition of Peacock Foods — which significantly enhances its branded goods and distribution capacity — as being “transformational” allowing it to quadruple its US revenue base.

Chief executive Patrick Coveney identified the addition of new customers [in the US] “on the back of our enlarged footprint and capability” as a prime growth opportunity when he reviewed Greencore’s latest quarterly performance with analysts yesterday. The Dublin-based convenience food group is confident it will meet its earnings targets for the 12 months to the end of September after posting a strong third-quarter update.