Greencore, the UK's top sandwich maker, is poised to acquire rival Bakkavor for £1.2 billion, potentially forming a £4 billion food-to-go giant. The cash-and-shares offer values Bakkavor at 200p per share, and follows two earlier bids that were rejected. With the board now willing to recommend the new proposal, the deal hinges on further due diligence and regulatory approval. If successful, Greencore would own 56% of the merged entity, enhancing production capabilities and operational efficiencies across their combined operations.
The proposed acquisition of Bakkavor represents a transformative step for Greencore, promising to create a leading food-to-go powerhouse in the UK with significant operational synergies.
Analysts believe that the merger could be "firmly accretive," leveraging increased scale and efficiencies to enhance profitability in the competitive food market.
Collection
[
|
...
]