Greencore
 |
|
| Public | |
| Traded as | : |
| Founded | Dublin, Ireland (1991) |
| Headquarters | Dublin, Ireland |
|
Key people
|
Gary Kennedy Chairman Patrick Coveney, CEO |
| Products | Convenience Foods |
| Revenue | £1,340.3 million (2015) |
| £83.0 million (2015) | |
| £59.0 million (2015) | |
| Website | www.greencore.com |
Greencore Group plc is a food company in Ireland. Established by the Irish government in 1991 when they privatised Irish Sugar, today its lines span mainly convenience food related interests in the Republic of Ireland and the United Kingdom. Greencore is today the world's largest sandwich manufacturer. It is listed on the and is a constituent of the FTSE 250 Index.
The company was established in 1926 in Carlow as a private enterprise known as the Irish Sugar Manufacturing Company, Limited. The Sugar Manufacture Act, 1933 was passed to promote self-sufficiency in sugar manufacture; this act was brought on by a crisis in the industry and resulted in the nationalisation of sugar manufacture. After the passing of this act factories were built in Mallow, Thurles and Tuam and the company became Cómhlucht Siúicre Éireann, Teoranta, the Irish for Irish Sugar Company, Limited. The Thurles and Tuam factories were closed in the early 1980s after a rationalisation became necessary and the company decided to concentrate manufacture at its Carlow and Mallow factories.
The Sugar Act, 1991 privatised the entity and it became Greencore at that time. The act was passed as the company had diversified beyond being a sugar manufacturing company into other food products. 55% of the group was listed on the that year, over the years additional placements have led to almost 100% of the shares now being in private hands. The exception is that the Irish Government holds a special share certificate (value EUR 1.26) in Irish Sugar Limited in order to prevent the Irish sugar quota being sold without its consent.
In 2005 the company announced that it would close its factory in Carlow, ceasing production on March 11. In March 2006 it was announced that the last remaining factory would close in Mallow, and this closure occurred on May 12. The reason indicated for these closures has been the reform of European Union policies on sugar which reduced the quotas and subsidies available and therefore making its manufacture unprofitable in Ireland.
In October 2009 Nordzucker announced that it had bought Greencore's 50% stake in its joint venture SugarPartners. As part of the deal, Nordzucker acquired the Siucra, McKinney and Castle brands from the company.
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