British watchdog raises issues with Greencore's acquisition bid

Greencore announced that it was to acquire its rival Bakkavor in a deal valued at €1.38bn

Chief executive of Greencore Dalton Philips. 

Irish convenience food company Greencore’s acquisition of Bakkavor Group has hit a roadblock as Britain's competition authority has raised concerns that the proposed deal gives rise to a “realistic prospect” of a substantial lessening of competition in the supply of own-label chilled sauces.

During the summer, Greencore announced that it was to acquire its rival Bakkavor in a deal valued at £1.2bn (€1.38bn). At the time, the company said the deal would create a leading British convenience food business with a combined revenue of £4bn and approximately 30,500 employees.