Last week’s eruption of hostilities between Greencore Group and Bakkavor Group suggests a return to normality on Britain’s high streets, following Sainsbury’s revelation that it is seeing a revival of the weekly shopping habit as working from home begins to fade.
Greencore, Britain’s biggest maker of convenience foods and food-to-go, from sandwiches to quiche, has been stalking its rival sandwich-maker Bakkavor Group. On Friday Bakkavor’s founders and 49 per cent shareholders, the Icelandic Gudmundsson brothers, rejected a second provisional offer worth £1.1 billion in cash and shares. Under Takeover Panel rules Greencore has until April 11 to turn its proposals into a firm offer.
The prize is the creation of a dominant food-to-go supplier with around £4 billion in annual revenue. Both companies mainly sell
