FDBusiness.com

Greencore Group, a leading manufacturer of convenience foods in the UK, has entered into a conditional agreement to sell its interests in its molasses trading businesses to United Molasses Marketing (Ireland) and United Molasses Marketing. The core activities of these businesses are importing and distributing animal feed across the island of Ireland.

Greencore is selling its interests for a cash consideration of approximately £15.6 million, subject to customary working capital adjustments. The proceeds will be used to further strengthen the Greencore’s balance sheet. The transaction is subject to the approval of relevant anti-trust authorities.