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Eversheds advises Greencore on £440m rights issue

  • United Kingdom
  • Global

    15-11-2016

    Eversheds has advised leading international convenience food producers, Greencore Group plc on its £440m rights issue to fund the acquisition of Peacock Foods.

    Headquartered in Dublin, Greencore employs approximately 12,800 people worldwide.

    Peacock is a fast-growing US convenience food manufacturer with strong positions in frozen breakfast sandwiches, kids' chilled meal kits and salad kits, generating revenues of approximately $1 billion.

    The combined business is expected to transform Greencore's market and channel position in the US to create a strong platform for long term profitable growth.

    Eversheds provided UK listing and equity capital markets advice on the rights issue and Class 1 acquisition.

    The Eversheds team was led by corporate partner Amanda Partland, with principal associate Jon Stanley providing specialist ECM advice and with tax advice provided by corporate tax partner Ben Jones and legal director Ian Zeider.

    Amanda Partland commented:

    “Greencore are longstanding clients of our firm and having advised on the Uniq takeover in 2011 it is a pleasure to have advised them again on another significant transaction – one that will help them in achieving their international growth plans.”

    Eversheds worked alongside Arthur Cox, with Bryan Cave providing US advice; the sponsors and underwriters were advised by Clifford Chance and McCann FitzGerald.

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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