Greencore buys The Sandwich Factory for £15m
Posted: 25 July 2016 | | No comments yet
Greencore Group plc (‘Greencore’) today announced that it has acquired The Sandwich Factory Holdings Limited (‘The Sandwich Factory’) from Cranswick plc.
The Sandwich Factory produces a range of food to go products for the convenience store and food service channels, currently operating from a single facility in Atherstone, Warwickshire. Net revenue from manufactured products in the financial year ending 31st March 2016 was £42m.
The acquired business will extend Greencore’s presence in the high growth food to go category outside of its current core business with large grocery customers, and could boost the company’s overall capacity in Greencore’s food to go business.
“This acquisition makes strong strategic sense for Greencore, given our ongoing focus on the food to go market,” said Greencore chief executive Patrick Coveney. “The Sandwich Factory will extend our reach into customer channels in which we are currently under represented, notably convenience stores and the travel sector, and will also bring new product types into the Greencore portfolio. We are delighted to be adding more capacity to our manufacturing network, and to be welcoming new colleagues to our business.”