Annuncio • Jan 16

Greencore Group plc completed the acquisition of Bakkavor Group plc (LSE:BAKK) from LongRange Capital Fund I, L.P., a fund managed by LongRange Capital, L.P., Carrion Enterprises Ltd, Umbriel Ventures Ltd and other shareholders.

Greencore Group plc made a proposal to acquire Bakkavor Group plc (LSE:BAKK) from LongRange Capital Fund I, L.P., a fund managed by LongRange Capital, L.P., Carrion Enterprises Ltd, Umbriel Ventures Ltd and other shareholders on February 25, 2025. Greencore Group plc made a revised proposal to acquire Bakkavor Group plc (LSE:BAKK) for £1.1 billion on March 7, 2025. Greencore Group plc reached an agreement in principle of Bakkavor Group plc (LSE:BAKK) for £1.2 billion on April 2, 2025. Greencore Group has made two proposals to Bakkavor regarding a possible cash and share offer for Bakkavor. Under the terms of the Revised Proposal: the terms of the Revised Proposal are: £0.85 in cash and 0.523 Greencore shares for each Bakkavor share. In addition Bakkavor shareholders would retain the right to receive the final dividend declared on 4 March of £4.8 pence per Bakkavor share Based on the Closing Price, the Revised Proposal implies a total equity value of £1.1 billion (inclusive of the dividend) for the fully diluted issued ordinary share capital of Bakkavor. The Revised Proposal would provide Bakkavor with a combination of cash certainty on completion and potential significant upside for Bakkavor shareholders from participating in the ongoing future benefits of the enlarged group. Post completion of the acquisition, Greencore shareholders would own approximately 59.8% and Bakkavor shareholders would own approximately 40.2% of the enlarged group. Greencore believes the Revised Proposal provides a highly compelling value creation opportunity for both Bakkavor and Greencore shareholders. Shareholders of both Bakkavor and Greencore would benefit from the significantly enlarged market capitalization and ongoing liquidity as a result of the transaction. As of February 27, 2025, Bakkavor Group plc rejected the first original proposal. As of March 10, 2025 The transaction got cancelled because the Board of Bakkavor concluded that it significantly undervalued the Company and its future prospects. Accordingly, the Board unanimously rejected the latest revised proposal. As of April 2, 2025 Under the terms of the Revised Proposal: the terms of the Revised Proposal are: £0.85 in cash; and 0.604 Greencore shares for each Bakkavor share. Bakkavor shareholders would also remain entitled to receive the Bakkavor FY24 final dividend of £4.8 pence declared on March 4, 2025 and payable on May 28, 2025 (subject to shareholder approval at Bakkavor’s AGM on May 22, 2025). It is also proposed that upon completion, Agust Gudmundsson and Lydur Gudmundsson, currently nonexecutive directors of Bakkavor, would join the board of the combined group as non-executive directors. The conditions of any transaction will be customary for a combination of this nature, and will include approval by Bakkavor shareholders of the scheme of arrangement, approval by Greencore shareholders of the transaction as a reverse takeover under the UK Listing Rules and the issuance of new Greencore shares as consideration under the transaction, approval by the UK Financial Conduct Authority of the Prospectus to be published by Greencore in connection with the listing of new Greencore shares, approval by the UK Competition and Markets Authority and any other required regulatory approvals. As of April 11, 2025, The deadline by which Greencore was required either to announce a firm intention to make an offer for Bakkavor was until 5.00 p.m. (London time) on April 11, 2025. Bakkavor is continuing discussions with Greencore regarding the Possible Offer. Therefore the Board of Bakkavor has requested, and the Panel on Takeovers and Mergers (the "Panel") has consented to, an extension to the Deadline until 5.00 p.m. (London time) on May 9, 2025 to allow time to continue discussions regarding the other terms and conditions of the Possible Offer, including the completion of mutual confirmatory due diligence to the satisfaction of Greencore and Bakkavor. As of May 9, 2025, The Board of Bakkavor has requested, and the Panel on Takeovers and Mergers has consented to, an extension of the PUSU Deadline to May 23, 2025. The Deadline may be extended further with the consent of the Panel. On May 15, 2025, Greencore Group plc have agreed the terms of a recommended acquisition to acquire Bakkavor Group plc. Upon completion, it is expected that Greencore Shareholders will own approximately 56%. and Bakkavor Shareholders will own approximately 44%. of the Combined Group. The cash component of the Base Consideration payable under the terms of the Transaction will be funded from third party debt incurred by Greencore's UK subsidiary, Greencore UK Holdings Limited (which provides treasury services to other members of the Greencore Group and typically acts as a principal obligor in the context of the Greencore Group's financing arrangements) and on-lent to Greencore. Such third party debt is to be provided under a new term loan facilities agreement entered into on 15 May 2025 among Greencore UK Holdings Limited (a subsidiary of Greencore) and certain of its subsidiaries, Coöperatieve Rabobank U.A. (as facility agent) and BNP Paribas and Coöperatieve Rabobank U.A. (as underwriters), pursuant to which senior term loan facilities of a total of £825 million have been made available to Greencore UK Holdings Limited. Such facilities shall be in addition to Greencore's existing £350 million revolving credit facility. Greencore has received irrevocable undertakings to vote in favour of the Scheme at the Court Meeting and the Bakkavor Resolutions at the Bakkavor General Meeting from each of Carrion Enterprises Ltd, Umbriel Ventures Ltd and LongRange Capital Fund I, L.P., in respect of a total of 400 million Bakkavor Shares representing approximately 69.2% of the ordinary share capital of Bakkavor. Greencore has received irrevocable undertakings from all of the Bakkavor Directors to vote in favor of the Scheme at the Court Meeting and the Bakkavor Resolutions at the Bakkavor General Meeting in respect of the Bakkavor Shares they hold, or where applicable, in respect of the Bakkavor Shares they are able to procure voting of, which comprised, in aggregate, 1.5 million Bakkavor Shares or approximately 0.3% of the ordinary share capital of Bakkavor. In total, Greencore has therefore received irrevocable undertakings in respect of a total of approximately 69.4% of the ordinary share capital of Bakkavor. The transaction is expected to close in the early 2026. As of June 12, 2025, The Court Meeting and the General Meeting, which will be held at July 7, 2025. The Court Meeting will commence at 3.00 p.m. and the General Meeting at 3.15 p.m. As of June 13, 2025, Polaris announced that it had sold 159,231 of the Greencore Shares and transferred out 2,237,154 of the Greencore Shares subject to the Irrevocable. As of June 16, 2025, Polaris additionally sold 126,100 of the Greencore Shares subject to the Irrevocable. As of July 4, 2025, Greencore Group PLC shareholders approved the transaction. Akeel Sachak and Jonathan Dale of N.M. Rothschild & Sons Limited acted as lead financial advisor to Greencore in the transaction. Michael Lavelle, James Ibbotson, Christopher Wren and Irina Dzuteska of Citigroup Global Markets Limited acted as lead financial advisor to Bakkavor. Dan Webster, James Thomlinson and Michael Nicholson of Peel Hunt LLP acted as financial advisors to Bakkavor. Richard Smith and Claire Jackson of Slaughter and May acted as legal advisor to Greencore Group plc. Edward McBride and Kevin Cruickshank of Deutsche Bank AG, London Branch acted as financial advisor to Greencore Group plc. Arthur Cox LLP acted as legal advisor to Greencore Group plc. Freshfields LLP acted as legal advisor to Bakkavor. A&L Goodbody LLP acted as legal advisor to Bakkavor. Equiniti Limited acted as registrar to Bakkavor. Edward McBride and Kevin Cruickshank of Numis Securities Limited acted as financial advisor to Greencore. Greencore Group plc completed the acquisition of Bakkavor Group plc (LSE:BAKK) from LongRange Capital Fund I, L.P., a fund managed by LongRange Capital, L.P., Carrion Enterprises Ltd, Umbriel Ventures Ltd and other shareholders on January 16, 2026. The listing of Bakkavor Shares on the Official List and dealings in Bakkavor Shares on the London Stock Exchange's Main Market will be suspended. As the Scheme has now become Effective, the non-executive directors of Bakkavor have each tendered their resignation and stepped down from the board of directors of Bakkavor.

Punteggio fiocco di neve
Valutazione	4/6
Crescita futura	4/6
Prestazioni passate	1/6
Salute finanziaria	2/6
Dividendi	0/6

Prezzi storici delle azioni
Prezzo attuale dell'azione	UK£3.51
Massimo di 52 settimane	UK£4.08
Minimo di 52 settimane	UK£2.53
Beta	0.84
Variazione di 1 mese	29.34%
Variazione a 3 mesi	n/a
Variazione di 1 anno	2.58%
Variazione a 3 anni	215.77%
Variazione a 5 anni	n/a
Variazione dall'IPO	0.14%

	GNCG.F	US Food	US Mercato
7D	8.5%	-2.9%	5.5%
1Y	2.6%	-2.6%	20.8%

GNCG.F volatility
GNCG.F Average Weekly Movement	n/a
Food Industry Average Movement	5.6%
Market Average Movement	7.3%
10% most volatile stocks in US Market	16.3%
10% least volatile stocks in US Market	3.1%

GNCG.F statistiche fondamentali
Capitalizzazione di mercato	US$2.78b
Utili (TTM)	US$4.04m
Ricavi(TTM)	US$3.15b

GNCG.F Conto economico (TTM)
Ricavi	UK£2.34b
Costo del fatturato	UK£1.59b
Profitto lordo	UK£757.20m
Altre spese	UK£754.20m
Utili	UK£3.00m

Utile per azione (EPS)	0.0038
Margine lordo	32.32%
Margine di profitto netto	0.13%
Rapporto debito/patrimonio netto	71.6%

Dati	Ultimo aggiornamento (ora UTC)
Analisi dell'azienda	2026/08/06 10:24
Prezzo dell'azione a fine giornata	2026/07/31 00:00
Utili	2026/03/27
Utili annuali	2025/09/26

Pacchetto	Dati	Tempistica	Esempio Fonte USA ^*
Dati finanziari della società	10 anni	Conto economico Rendiconto finanziario Bilancio	Modulo SEC 10-K Modulo SEC 10-Q
Stime di consenso degli analisti	+3 anni	Previsioni finanziarie Obiettivi di prezzo degli analisti	Rapporti di ricerca degli analisti Blue Matrix
Prezzi di mercato	30 anni	Prezzi delle azioni Dividendi, scissioni e azioni	Dati di mercato ICE Modulo SEC S-1
Proprietà	10 anni	Top azionisti Insider trading	Modulo 4 SEC Modulo 13D SEC
Gestione	10 anni	Team di leadership Consiglio di amministrazione	Modulo SEC 10-K Modulo SEC DEF 14A
Sviluppi principali	10 anni	Annunci aziendali	Modulo 8-K SEC

Analista	Istituzione
Karl Burns	Berenberg
Fintan Ryan	Berenberg
Gary Martin	Davy

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Greencore Group plc completed the acquisition of Bakkavor Group plc (LSE:BAKK) from LongRange Capital Fund I, L.P., a fund managed by LongRange Capital, L.P., Carrion Enterprises Ltd, Umbriel Ventures Ltd and other shareholders.

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Greencore Group plc to Report Fiscal Year 2026 Results on Dec 01, 2026

Greencore Group plc to Report First Half, 2026 Results on May 27, 2026

Greencore Group plc completed the acquisition of Bakkavor Group plc (LSE:BAKK) from LongRange Capital Fund I, L.P., a fund managed by LongRange Capital, L.P., Carrion Enterprises Ltd, Umbriel Ventures Ltd and other shareholders.

Greencore Group plc, Annual General Meeting, Jan 29, 2026

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