The Competition and Markets Authority (CMA) has revealed that the proposed acquisition of Bakkavor by Greencore in early 2026 “might be accepted”, as Bakkavor calls it “fantastic news”.
The UK food manufacturers are now aiming to complete the transaction in early 2026, subject to the satisfaction of the outstanding conditions to the scheme of the arrangement. They said that this includes the CMA’s final approval of the undertakings in lieu offered by Greencore and the sanction of the scheme by the court.
The acquisition will see Greencore sell its Bristol chilled soups and sauces manufacturing site, as Greencore is currently engaged with prospective purchasers. The Bristol site and its related business generated revenues of approximately £47 million in the year ended 26th September 2025, which is around 1% of the revenues of the combined group.
Dalton Philips, CEO of Greencore, stated: “The CMA’s acceptance in principle of the remedy is really good news and means we can now look to complete the Bakkavor deal in early 2026. In parallel, our focus is on finding the right new owner for our Bristol business. It’s been great to see such strong interest shown in what is a fantastic chilled soups and sauces operation, and I’m highly confident we’ll get a good outcome here.
“Looking further ahead, I’m extremely excited about what’s to come. Working with brilliant colleagues across Greencore and Bakkavor, we’ve got a huge opportunity to create real value – for our customers and consumers, our colleagues and our shareholders. Both teams are already collaborating really well on integration plans, and we’ll be ready to hit the ground running once the deal completes in early 2026.”
Mike Edwards, CEO of Bakkavor, commented: “Today’s clearance from the CMA is fantastic news and gives us even greater certainty that we will bring these two brilliant businesses together. We are now targeting to complete the deal by early 2026. Our integration plans are well progressed, and we will continue to work collaboratively with Greencore to ensure a quick and smooth transition following completion.
“With everything starting to feel very real, we are even more excited about bringing together our two complementary businesses and the best people in the industry. Together, the combined group’s scale will enable us to create even more opportunities for colleagues, deliver even better quality, service and innovation for our customers, and generate value for our shareholders.”
