2013 horse meat scandal but ABP said that it "welcomed their decision to continue sourcing fresh beef from other ABP companies". On 15 February 2013 Tesco said, "We will no longer work with the suppliers who fell below our very high standards." The first apparent instance of fresh beef being adulterated with horse meat was reported by Asda, which removed its 500-gram own-label beef Bolognese sauce from sale. The sauce was supplied by Greencore, which said in a statement that the meat in the sauce had been supplied by ABP Food Group's Nenagh plant in County Tipperary, Ireland. On 4 March 2013 Greencore announced
Tesco profits by £250 million. The misreporting resulted in almost £2.2 billion being wiped off the value of the company’s stock market value. The suspended executives included former commercial director Kevin Grace and UK managing director Chris Bush. The profit overstatement was subsequently revised upwards to £263 million following an investigation by the accountancy firm Deloitte, and it was clarified that the inflated profit figure was the result of Tesco bringing forward rebates from suppliers. The Serious Fraud Office (SFO) confirmed on 29 October 2014 that it was carrying out a criminal investigation into the accounting irregularities but declined to give