Greencore shares fall on US listeria scare

cc38c414-e7f5-4295-a6d4-ca197cd0d4d3articleimage.jpg

03 Oct 2017 --- Shares in Irish company Greencore have dropped after the company voluntarily initiated a recall of products in the US. The sandwich maker, which is listed in London, recalled batches of sandwiches issued towards the end of last month over fears that they could contain listeria, it emerged late last week.

The US Food and Drug Association (FDA) conducted environmental sampling at the company's Rhode Island plant, which found traces of the bacteria, which can cause infections in children and elderly people as well as miscarriages in pregnant women.

But the regulatory body said no traces of listeria had been found in finished products and Greencore said it had not received any reports of confirmed illnesses as a result of the sandwiches. Currently, Greencore makes sandwiches, salads and desserts in the US for customers, including Starbucks.

Greencore said its actions were purely precautionary. It recalled egg salad sandwiches, ham salad sandwiches, and seafood stuffing issued last month to certain US retailers.

Although the FDA said that no other Greencore products were affected by the possible contamination, the reputation of the company took a battering and its shares closed down 7.24 percent in London.

The group’s US business segment, expanded by the acquisition of Peacock at the end of last year, accounts for about a third of group revenue.

Related Articles

Business News

Tesco and its suppliers join forces to halve food waste by 2030

21 Sep 2017 --- Tesco has announced ground-breaking partnerships with suppliers to tackle UN Sustainable Development Goals on food waste. Speaking at a meeting of Champions 12.3 in New York yesterday, Dave Lewis, CEO of Tesco announced partnership agreements with 24 of the retailer's largest food suppliers, who will adopt the Sustainable Development Goals to halve food waste by 2030.  

Business News

Greencore Deal With Peacock Boosts Q1 Profit

23 May 2017 --- Convenience food group Greencore has reported a 46% increase in revenue in the first quarter, hot on the heels of the acquisition of US convenience food manufacturing partner Peacock last December. 

Food Research

Campden BRI Support Industry Network to Fight Food Fraud

05 Jan 2017 --- Science and Technology Company Campden BRI has been chosen to provide technical and administrative support to the Food Industry Intelligence Network (FIIN).

Business News

Greencore Bolsters US Operations with $747.5 Purchase of Illinois-Based Peacock Foods

15 Nov 2016 --- Greencore is acquiring the US frozen sandwich maker Peacock Foods for $747.5m, which the Anglo-Irish food giant says will "transform" its US business.

Business News

Greencore Says Impact of Brexit Likely to be “Modest” in Short-Term

27 Jul 2016 --- Greencore Group has said the UK's exit from the European Union is likely to have only a modest impact in the short-term and suggested that its UK business will largely escape the fall in the value of sterling.

More Articles