A takeover of Bakkavor by Greencore must not result on job losses or factory closures, GMB Union has warned.
Convenience food manufacturer Greencore is to purchase chilled food specialist Bakkavor for £1.2 billion, creating a UK food business with a combined revenue of £4 billion, it was announced today [Wednesday]
Both are companies expecting to report on ‘expected synergies’ - often management speak for cost-cutting, the union warns.
Eamon O’Hearn, GMB National Officer, said:
“This is a massive merger and could possibly pique the curiosity of the Competition and Market Authority’s new boss.
"Whether it does or now, companies ‘assessing synergies’ is often management speak for cost cutting.
“It is widely acknowledged by Government and the wider industry, that the UK food and drink industry needs more capacity not less.
“GMB is calling for a commitment to no factory closures and no job losses.”
ENDS
Media enquiries: GMB Press Office on 07958 156846 or at press.office@gmb.org.uk
Notes to Editors:
