Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > Waitrose supplier Bakkavor sells China operations in $67 million deal
    Finance

    Waitrose supplier Bakkavor sells China operations in $67 million deal

    Published by Global Banking & Finance Review®

    Posted on April 29, 2025

    2 min read

    Last updated: January 24, 2026

    The image showcases the Christophe De Margerie tanker docking at Russia's Arctic LNG 2, highlighting ongoing LNG export challenges amidst U.S. sanctions.
    Fourth sanctioned LNG tanker, Christophe De Margerie, at Russia's Arctic LNG 2 plant - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Quick Summary

    Bakkavor Group will sell its China operations for $67 million amid takeover talks with Greencore. The deal, involving 2,300 employees, is set to complete by 2025.

    Bakkavor to Sell China Operations in $67 Million Deal

    (Reuters) -UK fresh food provider Bakkavor Group said on Tuesday it will sell its China operations for a cash consideration of about 50 million pounds ($67 million), a move that comes amidst talks for a takeover by rival Greencore.

    Bakkavor has about 2,300 employees in China, where it earned revenue of 105 million pounds in 2024 by supplying foodservice and retail customers with salads, sandwiches and meals from its seven manufacturing sites.

    It will sell Bakkavor China Holdings to China-based Lihe Xing (Qingdao) Food Technology and expects to complete the deal in the second half of 2025.

    Bakkavor, which sells products such as soups, dips, salads, desserts, pizzas and breads, had been reshaping its businesses across the UK, China and the U.S. to cope with steep costs, subdued consumer demand and reduced volumes.

    In December 2024, it agreed to sell its Hong Kong business and said it would continue to review strategic options for the rest of its mainland China business.

    In early April, Greencore agreed to pay $1.55 billion in cash and stock to buy Bakkavor, whose retail customers include Tesco, M&S and Waitrose.

    Greencore has until May 9 to make a firm offer or walk away under UK takeover rules. ($1 = 0.7456 pounds)

    (Reporting by Chandini Monnappa in Bengaluru; Editing by Sonia Cheema and Savio D'Souza)

    Key Takeaways

    • •Bakkavor sells China operations for $67 million.
    • •The deal involves 2,300 employees and seven sites.
    • •Bakkavor reshapes its business amid high costs.
    • •Greencore in talks for a $1.55 billion takeover.
    • •Deal expected to complete in the second half of 2025.

    Frequently Asked Questions about Waitrose supplier Bakkavor sells China operations in $67 million deal

    1What is the main topic?

    The main topic is Bakkavor Group's sale of its China operations for $67 million amid takeover talks with Greencore.

    2Who is buying Bakkavor's China operations?

    Bakkavor's China operations are being sold to Lihe Xing (Qingdao) Food Technology.

    3When is the deal expected to complete?

    The deal is expected to complete in the second half of 2025.

    More from Finance

    Explore more articles in the Finance category

    Image for Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Image for The Kyiv family, with its pets and pigs, defying Russia and the cold
    The Kyiv family, with its pets and pigs, defying Russia and the cold
    Image for French miner Eramet's finance chief steps aside temporarily, days after CEO ouster
    French miner Eramet's finance chief steps aside temporarily, days after CEO ouster
    Image for Ukraine's Zelenskiy calls for faster action on air defence, repairs to grid
    Ukraine's Zelenskiy calls for faster action on air defence, repairs to grid
    Image for Goldman Sachs teams up with Anthropic to automate banking tasks with AI agents, CNBC reports
    Goldman Sachs teams up with Anthropic to automate banking tasks with AI agents, CNBC reports
    Image for Analysis-Hims' $49 weight-loss pill rattles investor case for cash-pay obesity market
    Analysis-Hims' $49 weight-loss pill rattles investor case for cash-pay obesity market
    Image for Analysis-Glencore to focus on short-term disposals as Rio deal remains elusive
    Analysis-Glencore to focus on short-term disposals as Rio deal remains elusive
    Image for Belgium's Agomab Therapeutics valued at $716 million as shares fall in Nasdaq debut
    Belgium's Agomab Therapeutics valued at $716 million as shares fall in Nasdaq debut
    Image for Big Tech's quarter in four charts: AI splurge and cloud growth
    Big Tech's quarter in four charts: AI splurge and cloud growth
    Image for EU hikes tariffs on Chinese ceramics to 79% to counter dumping 
    EU hikes tariffs on Chinese ceramics to 79% to counter dumping 
    Image for AI trade splinters as investors get more selective
    AI trade splinters as investors get more selective
    Image for EU extends tariff suspension on $109.8 billion of US imports for six months
    EU extends tariff suspension on $109.8 billion of US imports for six months
    View All Finance Posts
    Previous Finance PostBBVA warns of US tariff uncertainty on Mexican business
    Next Finance PostEuro zone bank lending continued to pick up before tariffs, ECB data shows