Greencore has today announced that it has acquired The Sandwich Factory Holdings Limited from Cranswick.
The Sandwich Factory operates from a single facility in Warwickshire, where it produces a range of food to go products for distribution in the convenience store and food service channels.
The acquired business will extend Greencore’s presence in the high-growth food to go category outside of its current core business with large grocery customers. The facility also offers an opportunity to modestly increase overall capacity across Greencore’s food to go network and will bring new capabilities in short-run, specialist product formats.
Total consideration will be up to €18m and will be funded from existing debt facilities.
Commenting on the transaction, Greencore CEO Patrick Coveney said: “This acquisition makes strong strategic sense for Greencore, given our ongoing focus on the food to go market.”
He continued: “The Sandwich Factory will extend our reach into customer channels in which we are currently under represented, notably convenience stores and the travel sector, and will also bring new product types into the Greencore portfolio. We are delighted to be adding more capacity to our manufacturing network, and to be welcoming new colleagues to our business.”