Irish company Greencore announced today that it has acquired International Cuisine Limited (ICL), a private label chilled ready meal business, from the Hain Daniels Group in the UK.
The majority of ICL's revenue (approximately £45 million) is derived from a number of existing Greencore ready meal customers. ICL’s facility is in Consett, County Durham and the gross assets acquired were £16.7 million. Greencore has said that the acquired facility will also provide additional capacity for the company's UK ready meals segment, which it said is showing "strong growth".
Greencore is a leading supplier of private label convenience food and employs 7,000 people and struck revenues of £804.2 million in 2011. (23 Aug)
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