date:May 22, 2014
The Greencore Group has sold its foodservice desserts business, Ministry of Cake, for 11 million, which includes an upfront cash consideration of 8 million. Reporting an increase in revenue and profit yesterday, Greencore chief executive Patrick Coveney said the convenience food group offloaded Ministry of Cake to become more streamlined, and focus on its main business savoury convenience food.
He stated that the deferred consideration of 3 million would be contingent on certain targets being