Greencore extracts itself from UK bread market

Greencore Group has announced that it has sold off its remaining UK bread activities, which trade as Rathbones Bakeries, to Finedon Mill for €30m. Rathbones is a private label bakery supplier operating eight bakeries in England and Wales.

Greencore will use the net proceeds from this transaction to reduce its indebtedness and to support further investment in its growing convenience food categories.