Icelandic brothers’ ready meal firm Bakkavor to be taken over by sandwich maker Greencore

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Two Icelandic brothers, described as “business Vikings”, are in line to make millions after their ready meals company, Bakkavor, agreed a takeover deal with the competitor Greencore, in a move set to create a £4bn food-to-go giant.

Greencore, the UK’s largest sandwich maker, said it had agreed to buy its rival Bakkavor in a deal valuing the company at £1.2bn.