Greencore to pull out of US

THE world’s largest sandwich maker is pulling out of the US market two years after it launched a transatlantic expansion.

Greencore, which also makes soups, quiches and cakes, is selling its entire American business to Illinois-based Hearthside Food Solutions for £817m.

Shareholders will vote on the deal, which is expected to complete at the end of November, at a meeting on November 7. Greencore entered the US market in 2008. It released a profit warning in March, blaming in part the weak performance of under-used US factories.