Greencore refuses to rule out bid


Supermarket sandwich maker Greencore is refusing to rule out launching a counter offer for Northern Foods

Supermarket sandwich maker Greencore has told shareholders it is still mulling over whether to launch a counter offer for former merger partner Northern Foods.

Greencore had agreed a tie-up with Goodfella’s pizza and Fox’s biscuits-maker Northern, but the deal was scuppered when an offer by the owner of Harry Ramsden’s fish restaurants Ranjit Singh Boparan was accepted by Northern’s board.

Dublin-based Greencore, which supplies ready meals and convenience food to many of the UK’s supermarkets, told its annual general meeting that it is still considering its options and will make a further announcement in due course, even though 10 days have now passed since Mr Boparan made his offer.

The operator of 17 factories in the UK also reported that sales increased 7.6% to 208.7 million euros (£179.7 million) in the three months to Christmas Eve, despite disruption caused by heavy snowfall.

The company said it had benefited from the trend of people eating out less after it reported a 22% rise in sales of chilled ready meals.

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