Greencore set to acquire Bakkavor in deal worth £1.2bn, with positive outlook for both companies.

From Yahoo Finance: 2025-05-15 08:09:00

Greencore is on track to acquire Bakkavor as both boards recommend the deal. Shareholders holding 69.4% of Bakkavor shares have agreed to the offer. The deal is valued at £1.2bn to create a combined business with revenue of £4bn. Greencore and Bakkavor directors are optimistic about the merger’s potential.

The takeover deal is subject to shareholder approval, with votes scheduled for early July. Greencore projects the deal to be finalized in 2026 pending UK regulatory approval. Bakkavor shareholders will receive 0.604 new Greencore shares at 85 pence each along with a contingent value right.

Greencore and Bakkavor anticipate annual cost synergies of £80m post-merger. The proposed transaction implies an enterprise value of £1.5bn. Bakkavor’s board sees the deal as attractive, offering shareholders a premium and future value creation. The merger is expected to be beneficial for both companies and stakeholders.



Read more at Yahoo Finance: Greencore receives majority approval from Bakkavor shareholders in takeover approach