Greencore Group PLC
13 December 2007
CONTACT: MS. C.M. BERGIN TELEPHONE: +353 1 605 1004
FAX: +353 1 605 1104
GREENCORE GROUP PLC ('Greencore' or the 'Group'), one of Europe's leading
convenience food and malt producers, today announces two acquisitions.
Greencore announces the acquisition of two UK based businesses, that will
strengthen our positions in both the foodservice and convenience store sectors.
The Ministry of Cake company and Danone's mineral water facility have been
acquired at a total cost of c. £15 million.
The Ministry of Cake is a producer of frozen cakes, cheesecakes and pastries
based in Taunton, Somerset. It is a specialist supplier to the foodservice
sector under the Ministry of Cake brand and customer own-brand. Its turnover in
2007 was £16 million.
Danone's well invested water facility in Blaen Twyni, produces natural and
flavoured spring waters from the Twyni spring in the Brecon Beacons National
Park. The facility was established in 2001 and will allow Greencore Mineral
Water to complement its existing facility in Lennoxtown, Scotland with access to
the strongly growing flavoured water market and convenience store channel.
Commenting on the acquisitions Patrick Coveney, Greencore's chief executive
designate said: 'Our convenience foods division continues to compete in
attractive product categories, growing at levels above the total food market and
delivering strong economic returns for both our customers and for Greencore.
These are strategic acquisitions which will assist in the diversification of our
business. The Ministry of Cake enhances our growing presence in the foodservice
sector and the Blaen Twyni facility is a valuable addition to our thriving water
business'.
For further information, please contact:
Fergal Leamy, Convenience Foods Development Director +353 (0)1 605 1032
Eoin Tonge, Group Capital Markets Director +353 (0)1 605 1036
Billy Murphy or Anne-Marie Curran, Drury Communications +353 (0)1 260 5000
Rory Godson, Powerscourt +44 (0)207 250 1446
13th December, 2007
This information is provided by RNS
The company news service from the London Stock Exchange
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