Irish firm Greencore has finally taken control of Hazlewood Foods after a protracted struggle to gain shareholders' approval which extended over the festive season.
As soon as the £258m cash offer for the convenience foods specialist was declared unconditional, Hazlewood chief executive Kevin Higginson and executive director John Simons resigned. Neither was available for comment.
Hazlewood chairman Peter Barr and other directors at the firm will remain on the Hazlewood board to assist with the transition to new ownership.
A spokesman said it was too early to say whether Barr would relinquish his ties with Hazlewood when he assumed the chairmanship of the Meat and Livestock Commission in April.
Greencore declined to comment on its future plans but indicated last year that major changes were afoot involving a "sizeable rationalisation and restructuring" of its new acquisition.
Sources close to the Irish group predict Greencore's first task will be to dispose of Hazlewood's non core assets, such as the horticulture and paper towels and tissues businesses.
Greencore chief executive David Dilger has taken charge of the integration process, assisted by Peter Woodall from Paramount Foods, who takes over from Higginson as Hazlewood chief executive.
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