Why invest in Greencore?

Our Strategy


Our strategy helps define the direction of the Group. In FY19 we reset our strategy to refocus on the attractive and growing UK convenience food market.

We have a clear strategy to drive sustainable growth, cash and returns from our industry leading UK business.

Drive growth in an expanding food to go market

Our ambition to drive growth in an expanding food to go market rests on two core elements: broadening our product proposition and enabling consumers to buy more.

We broaden our product proposition firstly through product innovation in our core portfolio. First and foremost this is about Great Food – exciting, tasty, safe, and inspired by the trends that consumers want. We must ensure that we invest in diverse product development capability and bespoke research so that we can work jointly with customers to adapt to changing consumer trends, formats, meal occasions and channels. Underpinned by this product development capability, we are also building scale in expanding food to go categories – in particular in meal salads, a broader sushi offering, chilled snacking, and hot food.

Enabling consumers to buy more is about supporting existing and new customers’ formats and channel plans. We work with customers to make current space work harder. This includes bespoke ranging by format, region and store. It also includes improved availability, underpinned by a joint approach to order management, food waste and supply chain analytics. We also enable customers to expand consumer reach by bringing our products to new points of distribution and ensuring that we are relevant to wherever consumers go when accessing food to go products.

We will continue to broaden our product range and extend our channel reach by utilising our investment in consumer insight and our additional capacity to develop new business opportunities with, and for, customers. We will also supplement these initiatives with disciplined strategic and tactical M&A activity.

Deepen customer relevance

Our strategy is to further deepen the relevance we have with our customers by driving returns through a shared value chain, by increasing value through our portfolio and by doing more for our customers.

We have an embedded customer partnership model. We create a compelling commercial offer, we work together to deliver this model and we partner with customers for the longer term.

Our strategy is to further deepen the relevance we have with our customers by driving returns through a shared value chain, by increasing value through our portfolio and by doing more for our customers.
We drive shared returns throughout the value chain by constantly enhancing our buying and manufacturing choices to optimise mix and efficiency, improving our joint supply chain, and driving retail growth.

We build multi-level, multi-functional relationships that can increase the relevance and value of our whole convenience food product portfolio with our customers and leverage our scale.

We also do more with customers across the value chain to bring expertise and drive value from activities beyond traditional manufacturing. These include activities such as order management, distribution to individual stores, joint capacity planning and category management.

We will continue to expand our capability set throughout the supply chain, underpinned by excellent customer service and a relentless focus on food safety and the highest technical standards. In addition, we will engage openly with customers as they seek to grow in new formats, occasions and channels or to consolidate via acquisition.

Adopt a distinctive and repeatable Greencore Way of working

Achieving our strategic objective is centred on four key capabilities: Great Food, People at the Core, Greencore Excellence and a Sustainable Business.

Great Food means many things for Greencore. We invest in our team and processes to ensure that we lead the industry in food integrity, delivering effective food safety and technical capabilities. We also invest in product and technical innovation to deliver the taste, nutrition, health and cost goals that our customers need.

People are at the core of Greencore’s success – delivering food safety, ensuring health and safety in factories, responding to customer requests and directly impacting our economic performance. As the labour market becomes increasingly competitive we are enhancing our employee engagement and retention policies to continue to differentiate ourselves through our people.

Greencore Excellence involves step-changing our approach across three key functions: purchasing, manufacturing and commercial. In Greencore Purchasing Excellence we invest in analytical capability and combine this with a supplier partnership approach to reduce supply chain costs. Greencore Manufacturing Excellence is set up to deliver efficiencies in performance and to sustain these over time – underpinned by technology. We have also launched Greencore Commercial Excellence with an initial focus on enhancing our insight capability.

We aim to have a focused sustainability agenda, including making specific commitments around the way we run our business and the contributions we make to industry sustainability. This strengthens our business model and reinforces our partnerships with customers.

We will continue to develop and invest in our capabilities to ensure that we exploit the growth opportunities available to us. Data technology and automation will remain very important elements of this.

We will continue to drive operational improvement, focusing on all areas of the supply chain through our Greencore Excellence programmes.

We will continue to enhance our engagement and retention strategy and maintain pay structures and employment conditions to ensure labour availability.

  • Mid single digit organic revenue growth
  • High single digit Adjusted EPS growth
  • Half of Adjusted EBITDA converting to Free Cash Flow
  • Mid teen ROIC

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