Greencore sales up despite tough comparison after sealing Bakkavor buy

(Alliance News) - Greencore Group PLC on Thursday said it achieved first quarter sales growth "despite a demanding prior-year comparison", as it looks to the future with confidence after sealing the buy of Bakkavor.

Convenience food maker Greencore said revenue rose 5.4% to GBP499.8 million in the first quarter to December 26.

"Despite a demanding prior-year comparison, we achieved revenue growth of 5.4% compared to Q1 FY25 and volume growth ahead of the market. This performance reflects the focus and huge efforts of our colleagues, who worked tirelessly on behalf of our customers, especially during the busy Christmas period," Chief Executive Dalton Philips said.

"Following the end of a strong Q1 and as we begin our centenary year, we reached an important milestone earlier this month with the acquisition of Bakkavor. It's a great business, and we've all been so impressed by the new colleagues we've met over the past two weeks."

Dublin-based Greencore sealed the GBP1.2 billion buy of Bakkavor earlier this month. Bakkavor makes fresh prepared food.

Greencore said: "Since August 2025, a dedicated integration team from Greencore and Bakkavor have been working to develop detailed integration plans, which have been quickly commenced post completion. To provide continuity and stability, both businesses will mostly operate in parallel for three months, at which time they will begin to integrate. Work has progressed positively to validate and begin executing on cost synergy plans. In particular, the executive team and extended leadership team of the combined business has been defined. The group continues to expect to deliver at least GBP80 million in annual cost synergies.

"The enlarged business (inclusive of Bakkavor) continues to trade in line with the board's expectations. While we continue to monitor the uncertain UK consumer environment, we remain encouraged by continued structural tailwinds across our convenience food categories."

The firm announces half-year results on May 27.

Greencore shares were 0.2% higher at 284.00 pence on Thursday morning in London.

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2026 Alliance News Ltd. All Rights Reserved.

Greencore