Greencore trims back for #25m

Agribusiness group Greencore has sold UK horticulturer Van Heyningen Brothers, and its Portuguese subsidiary, Hectare Agro Industria…

Agribusiness group Greencore has sold UK horticulturer Van Heyningen Brothers, and its Portuguese subsidiary, Hectare Agro Industria SA, to British horticulturer Humber Growers for £15 million sterling (#24.9 million).

The companies, which grow and trade tomatoes, herbs and cress, were acquired by Greencore as part of the Hazlewood Foods group.

Greencore will retain ownership of the freehold interest in one of the VHB sites at Littlehampton in Sussex, which it considers to have development potential. The proceeds of the sale will be used to reduce the indebtedness Greencore incurred in acquiring Hazlewood.