Greencore steps up Northern Foods fight

By Daily Mail Reporter
Updated: 03:37 EDT, 18 February 2011

Sandwich maker Greencore is in talks with a private equity backer in a last ditch attempt to re-enter the race for Goodfella's pizza maker Northern Foods.

Sources close to Northern said Greencore had been in contact with board directors earlier this week to request additional financial information, including an update on the past four week's trading and a revised full-year profit forecast.

The source said Greencore said it was in talks with a private equity backer but had refused to identify the firm.

Northern is understood to have asked the sandwich maker to 'show us the money' in terms of a formal bid.

Last month chicken magnate Ranjit Boparan gate-crashed an agreed all-share merger between Northern and Greencore with a £342m all-cash offer.

Boparan also owns the Buxted chicken brand and employs more than 5,000 people across 13 factories in Britain, Holland and America. He has already built up a 6.6% stake in Northern.