Greencore deal for Bakkavor moves closer after regulatory decision
Ireland-based convenience food manufacturer Greencore has said its proposal to acquire food maker Bakkavor has received the green light 'in principle'.
Greencore Group and Bakkavor Group have jointly said that the UK's Competition and Markets Authority (CMA) has communicated to both businesses today (Friday, November 7) that it has, in principle, accepted a proposed "remedy" in lieu of an investigation.
This will enable Greencore to target completion of the proposed acquisition of Bakkavor by Greencore in early 2026, Greencore said.
The proposed remedy involves Greencore selling its Bristol chilled soups and sauces manufacturing site, and Greencore is currently engaged with a number of prospective purchasers.
The Bristol site and its related business generated revenues of approximately £47 million in the year ended September 26, 2025, around 1% of the revenues of the combined group.
Greencore and Bakkavor are now targeting to complete the transaction in early 2026, subject to the satisfaction of the outstanding conditions to the scheme of arrangement, which include the CMA’s final approval of the undertakings in lieu offered by Greencore, and the sanction of the scheme by the courts.
Commenting on today's decision, Greencore CEO Dalton Phillips said: "The CMA’s acceptance in principle of the remedy is really good news and means we can now look to complete the Bakkavor deal in early 2026.
"In parallel, our focus is on finding the right new owner for our Bristol business. It’s been great to see such strong interest shown in what is a fantastic chilled soups and sauces operation, and I’mhighly confident we’ll get a good outcome here," Phillips added.
Working with brilliant colleagues across Greencore and Bakkavor, we’ve got a huge opportunity to create real value, for our customers and consumers, our colleagues and our shareholders.
"Both teams are already collaborating really well on integration plans, and we’ll be ready to hit the ground running once the deal completes in early 2026," Phillips said.
CEO of Bakkavor Mike Edwards said: "Today’s clearance from the CMA is fantastic news and gives us even greater certainty that we will bring these two brilliant businesses together.
"We are now targeting to complete the deal by early 2026. Our integration plans are well progressed, and we will continue to work collaboratively with Greencore to ensure a quick and smooth transition following completion," Edwards added.
