Greencore acquires rival Bakkavor in €1.4bn deal

Greencore said its half-year profit before tax surged by 81.6% to £26.7m compared to last year

Chief Executive of Greencore, Dalton Philips said the business had got off to a slower start to the year than envisaged

Convenience food manufacturer Greencore posted a significant rise in profits for the six months ending in March and announced its acquisition of rival Bakkavor Group.

Valued at £1.2bn (€1.42bn), Greencore said the deal already had strong support from a number of both Greencore and Bakkavor shareholders.