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CD&R Bidding for Irish Food Group

US firm Clayton Dubilier & Rice has been revealed as the bidder for Irish food group Greencore as reported in the Sunday times, writes Reuters.

(Reuters) – The bidder for Irish food group Greencore has been revealed as U.S. private equity company Clayton Dubilier & Rice according to a report in the Sunday Times.

Greencore, one of the biggest sandwich and ready-meal suppliers to Britain, received a potential takeover approach on Tuesday, sending its shares soaring.

CD&R, which the Sunday Times said is in “detailed discussions” about a takeover of the Dublin-headquartered group, hired former Tesco chief executive, Terry Leahy, as a senior adviser in March.

Greencore and CD&R were not immediately available for comment.

Greencore agreed to buy British rival Uniq for 113 million pounds ($181 million) in July, boosting its relationship with upmarket British food retailer Marks & Spencer .