Greencore sells Erin Foods for €27 million
Greencore today announced it has reached agreement for the sale of its subsidiaries Erin Foods Ltd, Erin Foods Manufacturing Ltd and William Rodgers Foods Ltd to Campbell Soup for €27.165 million.
Erin, based in Thurles, manufactures a range of branded and own label dried soups, sauces and snack meals. Rodgers, based in Kirby-in-Ashfield, UK, manufactures pasta in sauce and savory rice and a variety of dried packaged groceries in private label formats.
The value of the net assets of Erin and Rodgers as at September 28th, 2001, amounted to €18.530 million. The proceeds will be used in the first instance to reduce debts, the company said.