Greencore looks to step up food-to-go operation
08 June, 2007
Greencore said last week that it plans to grow its food-to-go and sandwich businesses by organic growth or through acquisition.
Speaking after the convenience food group reported a 38% hike in pre-tax profits to E35.4m (£24m) for the for the half year to 30 March, chief financial officer Patrick Coveney said that Greencore had "hitched its wagon" to the food-to-go trend.The company is "on strategy" to develop its food-to-go offering via the most appropriate routes - either organic growth or by making a suitable future acquisition.The Irish-based supplier, which has businesses ranging from malt ingredients to ready meals, as well as three sandwich production sites in the UK.Greencore would respond to changing consumer demands, added Coveney. "We have already gone into potted salads, baguettes, wraps and hot eating sandwiches. It depends how you define the food-to-go proposition, but we are seeing double digit growth in consumer demand." Greencore also owns a cake bakery in Hull and a quiche business in Kiveton, Sheffield, both "well-invested facilities", said Coveney.Greencore announced total sales of E633m for the half year to March 30 2007.