Tuesday October 20, 2020

Greencore’s flight from America will put it in a better state

Patrick Coveney deserves credit for the deal with US firm Hearthside that, should shareholders agree to it, will give Greencore a billion-dollar exit from a difficult situation across the Atlantic

Ian Guider

Markets Editor

21st October, 2018
Patrick Coveney chief executive, Greencore: could the company now become the target of a takeover bid? Picture: Maura Hickey

Pocketing $1 billion (€920 million) is not the worst start to a week for any company. For Greencore, selling its entire US business last Monday has given the company an elegant and clean solution to a problem that has been mounting for it since it doubled down on its American exposure less than two years ago. The question left for Greencore shareholders now is whether, having done one big disposal, the rest of the company...

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