U.K.-based Greencore Group (LSE:GNC) climbed during the quarter after the company declared full-year results that beat expectations. The British food-to-go business had strong sales growth due to commercial launches. Peacock Foods, Greencore’s acquired U.S. business, gained traction with large new customers and business wins projected in 2018. Shares of Tyson Foods rose, driven by consensus-beating earnings and a robust 2018 demand outlook. The stock also benefitted from Tyson’s acquisition of food service company AdvancePierre, as investors expect that the integration will lead to greater sales and profitability.
From the Polaris Global Value Fund fourth quarter 2017 shareholder letter.
