menu

IC Buy Tip

lse:gnc

#1

Greencore set to benefit from Tyson deal

Shares in food producer Greencore Group (GNC) fell by nearly 8 per cent after its biggest US customer, Tyson Foods, announced it was buying Advance Pierre for $3.2bn (£2.5bn) - a business operating in Greencore’s fast growing “food-to-go” niche. But we feel that the market’s knee-jerk reaction to the news ignores the fact that this deal probably represents more of an opportunity than a threat for Greencore.