Dec. 13 - GREENCORE GROUP PLC ('Greencore' or the 'Group'), one of Europe's leading convenience food and malt producers, today announces two acquisitions.
Greencore announces the acquisition of two UK based businesses, that will strengthen our positions in both the foodservice and convenience store sectors. The Ministry of Cake company and Danone's mineral water facility have been acquired at a total cost of c. £15 million.
The Ministry of Cake is a producer of frozen cakes, cheesecakes and pastries based in Taunton, Somerset. It is a specialist supplier to the foodservice sector under the Ministry of Cake brand and customer own-brand. Its turnover in
2007 was £16 million.
Danone's well invested water facility in Blaen Twyni, produces natural and flavoured spring waters from the Twyni spring in the Brecon Beacons National Park. The facility was established in 2001 and will allow Greencore Mineral Water to complement its existing facility in Lennoxtown, Scotland with access to the strongly growing flavoured water market and convenience store channel.
Commenting on the acquisitions Patrick Coveney, Greencore's chief executive designate said: 'Our convenience foods division continues to compete in attractive product categories, growing at levels above the total food market and delivering strong economic returns for both our customers and for Greencore. These are strategic acquisitions which will assist in the diversification of our business. The Ministry of Cake enhances our growing presence in the foodservice sector and the Blaen Twyni facility is a valuable addition to our thriving water business'.