The transaction has been completed following the green light from the Court and the delivery of the Court Order copy to the Registrar of Companies.
The conclusion of the deal comes after months of back and forth between the companies and the Competition and Markets Authority (CMA).
An investigation was launched in the summer of 2025 after concerns were raised that the acquisition could see a “substantial lessening of competition” for the prepared foods market.
Phase one of the investigation revealed the CMA had no concerns over the majority of its own-label products. However, it did highlight issues in the area of own-label chilled sauces, noting that there is limited competition from other suppliers, including 2 Sisters and Billington Food Group.
The duo was given until November to address the concerns – which came in the form of another acquisition, this time from Compleat Food Group, which snapped up Greencore’s Bristol soups and sauces plant.
The remedy was subsequently approved by the CMA in December 2025, removing the need for further probing from the competition watchdog.
Together, the businesses have generated around £4.1 billion in revenue for FY25, with an adjusted operating profit of £246.5 million.
The acquisition also leaves the combined businesses with 28,000 people across 36 manufacturing sites, producing more than 3,200 products across over 20 categories.
Commenting on the completed acquisition, Dalton Philips, CEO of Greencore, said: “We are proud today to bring together two great companies to create a UK national convenience food champion. In Greencore’s centenary year this is another milestone in a remarkable story.
“I’d like to thank the hard work of the teams at Greencore and Bakkavor that made this combination happen, while continuing to deliver great food for our customers every day.
“With a comprehensive convenience food portfolio across “food for now” and “food for later” we’re really excited by the prospects for our business, and all we can offer our customers and colleagues.
“Over past months, we have been putting in place plans to integrate the two businesses effectively and our focus now turns firmly to execution and realising the opportunity ahead of us.”
As the deal is now complete, Bakkavor’s non-executive directors have each handed in their resignations and stepped down from its board of directors.
Bakkavor scheme shareholders will receive 85p in cash – so long as they were on the register of members before the cut-off (6pm 15 Jan 2026).
The listing of Bakkavor Shares on the Official List and dealings in Bakkavor Shares on the London Stock Exchange’s (LSE) Main Market have now been suspended.
It is anticipated that from 8am on 19 January, the listing of Bakkavor Shares on the equity shares (commercial companies) category of the Official List will be cancelled, while Bakkavor shares will no longer be admitted to trading on the LSE’s Main Market.
An application has been made to the LSE for 361.9 million new Greencore shares of 1p each to be admitted to trading on the LSE’s Main Market.
These are expected to be admitted to listing on the Official List maintained by the Financial Conduct Authority and to trading on the LSE’s Main Market by 8am on 19 January.
