Company Profile

Greencore is a manufacturer of convenience foods with operations in the UK. Activity is largely concentrated on supplying food-to-go solutions to retail customers and other channels such as independent grocers and food service operators. It has strong positions in food-to-go (sandwiches, salads (meal and side), sushi) and chilled meal solutions (ready meals, sauces, quiches). Greencore exited its US business (Peacock Foods) in late 2018, following its earlier entry into the US market via a series of acquisitions from 2008. The model has thus reverted to a simpler UK-centric business with a mix of lower growth but higher potential returns on capital. Its recent £90m equity raise helps to address near-term leverage concerns arising from the pandemic and provides operating capital to target and on-board new business opportunities.