Convenience foods giant Greencore has announced that it has completed the sale of its Greencore US operations, to Hearthside Food Solutions.
In a statement on its website, Greencore said that the €863 million sale of the business was completed on 25 November.
In a statement, Hearthside Food Solutions said that the transaction 'marks a significant step in the further growth and development of Hearthside as a leading contract manufacturer', with the addition of 13 locations to its US-based manufacturing network.
“We continue to position Hearthside as a full-service contract manufacturing provider in key, high-growth categories, enabling our customers to maximise their go-to-market strategies, leverage innovation, increase speed-to-market and optimise efficiencies,” commented Rich Scalise, Hearthside chairman and CEO.
Hearthside's manufacturing operation now covers 38 locations, 10,000 employees and accounts for around $3 billion in revenue.
The Downers Grove, Illinois-based firm is largely involved in the production of nutrition and snack bars, as well as a full-service provider of high-quality snack food products and packaging services for third party brands.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine