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Activist Oasis may turn to a preferred playbook to help build value at Greencore

·1 min


Oasis Management Builds Stake in Greencore #

Hong Kong-based hedge fund Oasis Management has been quietly accumulating a stake in Greencore Group, the Ireland-based convenience food manufacturer. Oasis has reportedly approached the UK’s 5% threshold and has held several meetings with the board and management of Greencore.

Greencore has been struggling to recover from the impact of the Covid-19 pandemic and has seen a decline in its stock price and operating performance. The company’s adjusted operating profit and earnings have not reached pre-pandemic levels, and its operating margins have fallen. In comparison to its peers, Greencore has not reinstated its dividend and its margins are lower.

Oasis Management, known for its successful activism primarily in Asia, has previously undertaken activism campaigns in Europe with impressive results. The hedge fund has a track record of pushing for changes such as board seats, strategic actions, and improved corporate governance. It remains to be seen how Oasis will engage with Greencore.