Greencore Group plc (LSE:GNC) is looking for M&A. Greencore plans to return to the acquisitions trail after unveiling a series of fresh financial targets. Chief executive Dalton Philips is also targeting a return of invested capital of more than 15% for the group and is seeking to expand into new areas, including through mergers and acquisitions (M&A). Greencore's chief financial officer Catherine Gubbins told The Irish Times at the time that the group was open to purchase in three areas.
These include food categories adjacent to its current offering, which spans sushi to ready-made Italian meals; a new convenience food area; or a new geography.
Greencore Group plc is an Ireland-based manufacturer of convenience foods company. The Company supplies a wide range of chilled, frozen, and ambient foods to retail and food service customers in the UK (The United Kingdom). The Company operates in a single segment, Convenience Foods UK and Ireland. The Convenience Foods UK and Ireland segment includes a range of categories of sandwiches, salads, sushi, chilled snacking, chilled ready meals, chilled soups and sauces, chilled quiche, ambient sauces and pickles, and frozen Yorkshire Puddings. The Company supplies supermarkets in the UK, convenience and travel retail outlets, discounters, coffee shops, food service and other retailers. It manufactures approximately 779 million sandwiches and other Food to Go products, 132 million chilled ready meals, 45 million chilled soups and sauces and 245 million jars of cooking sauces, pickles, and condiments. It has more than 16 manufacturing sites and 17 distribution centers in the UK.
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