Greencore buys UK food business

Food group Greencore has bought UK-based chilled ready meal business International Cuisine Limited.

The group did not say how much it had paid for the Durham-based firm, which it bought from the Hain Daniels Group.

The deal will be funded from existing debt facilities.

Greencore said the majority of the company’s revenue, which amounts to about £45 million, is derived from several existing Greencore ready meal customers. Its gross assets were £16.7 million.

The purchase will give Greencore extra capacity in the UK ready meals market, the group said.