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DUBLIN - Greencore Group plc announced Friday that shareholders have overwhelmingly approved its proposed acquisition of Bakkavor Group plc, with 99.96% of votes cast in favor of the transaction at an Extraordinary General Meeting.
The Irish convenience food manufacturer, which supplies major UK supermarkets, received similar strong support for a resolution authorizing directors to issue new shares to facilitate the deal, with 99.96% approval.
The acquisition will proceed through a Court-sanctioned scheme of arrangement under UK law, pending approval from Bakkavor shareholders at meetings scheduled for July 7 in London. The transaction remains subject to additional conditions, including regulatory clearance from the UK Competition and Markets Authority.
Greencore, which manufactured 748 million sandwiches and other food-to-go products in fiscal year 2024, is headquartered in Dublin and operates 16 manufacturing sites across the UK. The company reported revenues of £1.8 billion in FY24 and employs approximately 13,300 people.
The company also announced it will release its third-quarter trading update on July 22.
The proposed combination would unite two significant players in the UK prepared foods sector. Greencore currently holds strong market positions across multiple categories including sandwiches, salads, chilled ready meals, and ambient sauces.
This report is based on a press release statement from Greencore Group plc.
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