Slaughter and May is advising Greencore Group plc, a leading convenience food business incorporated in Ireland and premium-listed on the London Stock Exchange, on its class 1 approval process relating to the proposed sale of its entire US business to an affiliate of Hearthside Food Solutions LLC for US$1,075 million.
Greencore USA operates 13 locations across North America, with 3,500 employees, and in 2017 it recorded revenues of $1.4 billion. The business makes products such as sandwiches, meal kits and salads. The acquisition expands Hearthside’s network to 38 production facilities in the US and Europe.
Hearthside was itself acquired in May 2018 by Charlesbank Capital Partners and Partners Group.
Greencore expects the deal to be completed by the end of November 2018.
Slaughter and May is advising Greencore Group on the deal with a Corporate team led by Richard Smith (partner, in picture) and Victoria MacDuff (partner), alongside Ed Steward (associate), Katie Whiteman (associate); on Pensions law are acting Dan Schaffer (partner) Akshay Chauhan (associate).
Involved fees earner: Victoria MacDuff – Slaughter and May; Richard Smith – Slaughter and May; Edward Steward – Slaughter and May; Katie Whiteman – Slaughter and May; Daniel Schaffer – Slaughter and May; Akshay Chauhan – Slaughter and May;
Law Firms: Slaughter and May;
Clients: Greencore Group plc;