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Greencore Group PLC on Friday said its subsidiary Greencore Advances DAC has agreed to sell Trilby Trading Ltd to KTC (Edibles) Ltd.
The Dublin-based maker of convenience foods said Trilby, a Dublin-based importer and distributor of vegetable oils, will be sold for €9.8 million.
As at March 31, Trilby gross assets were €23.4 million, and pretax profit for the year ended September 30, 2022 attributable to Greencore’s interest was €2.9 million.
KTC is a West Midlands, England-based manufacturer of edible oils, a majority owned subsidiary of Endless LLP.
The sale is expected to be completed in September, Greencore said.
Greencore Chief Executive Officer Dalton Philips said: ‘Trilby is a great business with attractive assets and a fantastic team. However, given our strategic focus on the UK convenience food market, it is no longer a core part of Greencore’s plans. As such, we are very pleased to have found such a good home for Trilby’s operations and colleagues.’
Greencore shares were up 0.5% at 87.55 each in London on Friday midday.
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