Greenyard announces intention to sell off UK Fresh operations

Tue 28/06/2022 by Richard Wilkinson
Greenyard headquarters. Copyright: Greenyard.

Greenyard has released a financial report noting the firm’s intention to divest its UK Fresh operations over the coming months as it sees “insufficient room for standalone profitable growth in a mature market that is also under pressure from Brexit and supply chain disruptions”. The move comes after the sale of Greenyard Prepared Netherlands and Bardsley Fruit Enterprises Ltd in the 2021/22 assessment year. However, the group says it remains “fully committed to its Frozen activities in the UK, in the Long Fresh segment.”

Greenyard increased its profitability during the past financial year, with net profits from continuing operations totalling €16.9 million compared to €1.2 million for the previous year. Sales were up by 1.4%. The Fresh segment also managed to improve its Adjusted EBITDA margin from 2.6% to 2.8%, despite the supply chain and labour market disruptions and the rising inflation.

The group said it was confident that it will achieve its ambition of reaching €5 billion in sales and €200-210 million in Adjusted EBITDA by March 2025, despite the very challenging current and prospective market conditions.

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