Northern Foods: Greencore response to Boparan bid

Dublin / IR. (gg) The board of Greencore Group notes the announcement of a recommended cash offer by BH Acquisitions Limited for Northern Foods PLC and the press commentary over the weekend. The board of Greencore continues to believe that a combination with Northern Foods to create Essenta Foods represents a compelling opportunity for value creation for both Greencore and Northern Foods shareholders, through the formation of a business with increased scale in the industry and the ability to deliver substantial synergies around which the board has increased confidence. However, the board recognises the importance attached by the Northern Foods board to the certainty of cash value in their decision to change their recommendation. Given this latest development, the board of Greencore will now consider its options and as part of this process intends to seek the views of both Greencore and Northern Foods shareholders. A further announcement will be made in due course.