Greencore Uniq deal ‘very much on track’

By Dan Colombini

- Last updated on GMT

Greencore's Uniq acquistion is starting to bear fruit, according to the firm
Greencore's Uniq acquistion is starting to bear fruit, according to the firm

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Chilled foods firm Greencore has revealed that the successful integration of the Uniq business is “very much on track” following an investor day at its Northampton sandwich factory, according to city analysts.

Experts praised Greencore for its focused approach and confirmed that the firm was starting to see the benefits of the Uniq deal, which was completed at the end of last year.

Darren Shirley, an analyst at Shore Capital, said: “Following its recent change of reporting currency, London listing and acquisition of Uniq, Greencore management team presented to investors in London and Northampton​.

Organic growth

Management highlighted its total focus at present is [devoted to] sustaining the progression of its core business and integrating Uniq. First quarter trading highlighted a strong core performance and pleasingly, the integration is very much on-track and set to deliver organic growth, synergy benefits and low cash tax payments​.”

As a result, Shore Capital reiterated its buy recommendation for the firm.

We believe that Greencore can deliver solid, sustained growth supported by a strengthening balance sheet,​” Shirley added.

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