Greencore announces disposal of its Minsterley facility to Müller
Greencore today announces it has reached agreement to dispose of its Chilled Desserts facility in Minsterley to the Müller Dairy UK group ("Müller") (the "Disposal").
Under the terms of the Disposal, ownership of the facility will transfer to Müller and the co-packing arrangement for Cadbury chilled desserts will terminate. Cash consideration will be £4.3 million, plus an amount for stock.
The disposal is expected to complete at the start of January 2013, by which time the transfer of production of other premium desserts lines and related manufacturing equipment to Evercreech will have been completed. This would then conclude the restructuring of the Chilled Desserts business, which Greencore acquired from Uniq in September 2011.
For further information, please contact
Chief Financial Officer
Tel: +353 (0) 1 605 1000
Rob Greening or Lisa Kavanagh
Tel: +44 (0) 20 7250 1446
§ A leading international producer of convenience food with operations in the UK and the US
§ Strong market positions in the UK convenience food market across sandwiches, chilled prepared meals, chilled soups and sauces, ambient sauces & pickles, cakes & desserts and Yorkshire puddings
§ Extending presence outside the UK with an emerging convenience food business in the US
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