06 August 1998
Greencore makes £28.3m offer
for Paramount

GREENCORE, the Irish foods group, announced a £28.3 million recommended cash offer for Paramount Foods, the pizza-base maker.

Greencore said it had acceptances representing just over 53% of Paramounts share capital.

Paramount recorded pre-tax profits of £2.04m on turnover of £28.5m in 1997. It came to the market at 200p in 1993, and issued the first of three profit warnings within five months of flotation. The offer values Paramount shares at 150p each.

  • The Independent 06/08/98 page 19
  • Financial Times 06/08/98 page 30 (News Digest)
  • The Daily Telegraph 06/08/98 page 29
  • The Scotsman 06/08/98 page 24