Clayton Dubilier in talks to acquire Greencore

US private equity investment firm Clayton Dubilier & Rice is in detailed discussions to purchase Irish food company Greencore.

Last month, Greencore announced that it received a takeover bid, saying that talks were at an early stage and there could be no certainty whether any offer would be forthcoming.

According to bankers, Greencore is estimated to be worth €700m ($974m), including debt.

In July, Greencore entered into an agreement to buy British food manufacturer Uniq for £113m ($180.72m), after its deal to acquire Northern Foods failed.

Greencore is a leading sandwich and ready meals supplier in Britain, manufactures 200 million sandwiches annually, and supplies to supermarket chains including Marks and Spencer, Asda, Wm Morrison, Waitrose and J Sainsbury.