Saturday November 28, 2020

Beleaguered Greencore now a buyout target as funds ramp up short bets

A briefing note from German investment bank Berenberg noted concern among investors that Greencore was the new Aryzta, and that further profit warnings could see the company breach its debt covenants

Barry J Whyte

Chief Feature Writer

@whytebarry
18th March, 2018
Patrick Coveney, chief executive of Greencore Picture: Kenneth O’Halloran

The troubled Irish food company Greencore is under fresh pressure after half a dozen major hedge funds raised their bets that its share price will soon drop again.

Meanwhile, a briefing note from German investment bank Berenberg noted concern among investors that Greencore was the new Aryzta, and that further profit warnings could see the company breach its debt covenants.

While Berenberg argued that such a breach was unlikely, it did state that Greencore was...

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