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Leadership
Sale of Greencore’s malt division stalls - report
09.02.2010
The potential sale of Greencore’s malt division to French malt company Soufflet appears to have fallen through, according to reports.
The Irish Examiner had previously reported that Greencore had been hoping to sell its malt business for €120m this year, with Soufflet having emerged as the main contender to buy the business.
However, the paper now says that a number of factors have prevented the French group from going ahead with the deal, with the main one appearing to be the malting market, which has been hit hard by the global economic downturn.
Greencore confirmed in November that it had received a number of unsolicited approaches for its malt business from international ingredients companies with large-scale malting businesses.
More news of the future of Greencore’s malt business is expected at the company’s AGM this Thursday.
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