Greencore completes Bakkavor takeover to create convenience food powerhouse
Key takeaways
- Greencore officially completes its takeover of Bakkavor in a £1.2 billion (US$1.6 billion) cash-and-shares deal, creating one of the UK’s largest prepared foods businesses.
- The transaction brings together two major prepared-food specialists, significantly increasing Greencore’s manufacturing footprint.
- By combining food-to-go strengths with “food for later” ranges, the enlarged group is positioned to serve more shopper needs across the day under a single supply platform.
British F&B supplier Greencore has completed its acquisition of food manufacturing company Bakkavor. The £1.2B (US$1.6 billion) deal will create a “UK national convenience food champion,” according to the companies.
Greencore chief executive Dalton Philips said the group will offer a “highly complementary product portfolio” spanning “food for now” and “food for later.”
The new group will serve the leading supermarkets in the UK, as well as major convenience and travel retail customers. It is expected to generate £4 billion (US$5.11 billion) revenue, merging complementary food-to-go and prepared meal portfolios.
Major consolidation in prepared foods
The deal sees pizza, bread, desserts, and dips added to Greencore’s range of food items. The new entity has ambitions to become the market leader across categories such as sandwiches, salads, ready meals, pizzas, and desserts.
It is tipped to become a dominant supplier to major UK retailers like Tesco, Sainsbury’s, Waitrose, Marks & Spencer, and Asda. The combined group now employs around 28,000 people across 36 production sites.
In October 2025, the UK’s Competition and Markets Authority (CMA) initially found that Greencore’s acquisition of Bakkavor raised competition concerns, and a phase two probe was conducted. At the time, the regulator raised competition concerns in chilled sauces, but not for ready meals and salads.
However, the CMA approved the deal in December 2025 after Greencore proposed to sell its Bristol manufacturing facility, which makes chilled soups and sauces.
The deal also signals convergence across eating occasions — from quick lunch options to evening meals — under one supply chain and commercial strategy.
Board changes and shares
The listing of Bakkavor Shares on the Official List and dealings in Bakkavor Shares on the London Stock Exchange’s Main Market were suspended from January 16.
Bakkavar also announces that the non-executive directors of the company have stepped down from the board of directors.
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