22 February 2000
Greencore ends bid to buy Perkins

CHILLED and frozen food company Perkins Foods saw its shares drop 14.5p to 105p after Irish foods business Greencore announced it had ended talks to buy the company.

Discussions which had lasted two months appear to have foundered on the strategic direction for Perkins, reports the Financial Times.

Greencore did not want to keep the frozen food divisions which make up half of the business, but could not carry Perkins management on the issue..

Perkins will now seek to draw a line under the matter when it announces its 1999 results on Monday (28 February).

Trading figures for last year are said to be substantially ahead of 1998. Analysts forecast pretax profits in the region of £22m.

  • The Financial Times 22/02/2000 page 27
  • The Daily Telegraph 22/02/2000 page 31
  • The Independent 22/02/2000 page 20