Greencore has sold its interest in British sugar distributor Budgetts, to Napier Brown Foods for €9.05 million.
Greencore will receive €5.75 million in cash on completion of the sale and deferred payments of €670,000 as well as 1,395,349 new ordinary shares in Napier Brown.
Greencore's chief executive, Mr David Dilger said the sale will enable Greencore to concentrate on its convenience food activities.
