Greencore has made its first move to sell off non-core assets in Hazlewood, the British consumer foods group it acquired late last year for £258 million sterling (€406 million).
Greencore has sold off Hazlewood's F H Lee paper business for a token consideration of £1 and the ready meals plant in Wrexham for £5.3 million sterling.
Both these operations were substantially loss-making, said Greencore chief executive Mr David Dilger. In addition, Greencore confirmed it would close Hazlewood's head office in Derby at the end of this month with the loss of 42 jobs. Hazlewood's business will be decentralised into four groups - grocery, chilled foods, prepared meals and international - and Greencore's existing Paramount Foods business is being integrated into this new Hazlewood structure.
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