Benefits of sugar deal questioned

THE benefits of a strategic alliance between Greencore’s Irish Sugar subsidiary and a French-based co-operative were questioned yesterday.

It followed reports that Greencore was in advanced talks with Sucre Union, a Swiss-owned co-operative, which is believed to have about 15% of France’s sugar quota.

Sucre has a quota of 800,000 tonnes per annum, four times that of Greencore, and a turnover of €500 million.