5th Nov 2013 14:41
LONDON (Alliance News) - Food manufacturer Premier Foods Group PLC is in talks with a number of private equity groups about selling a stake in its struggling bread business, Sky News reported Tuesday.
The owner of a range of products including Hovis Bread and Bisto gravy is looking at a range of options for the bread unit, including spinning it out as a separate company owned by Premier and another investor, City Editor Mark Kleinman reported, without saying where he got the information.
Premier Foods' Chief Executive Officer, Gavin Darby, is "understood" to have asked merger and acquisition advisory firm Ondra Partners to help search for an outside investor, Kleinman said.
Premier Foods shares were trading 4.7% higher Tuesday afternoon, at 140.00 pence per share.
http://news.sky.com/story/1164267/premier-foods-hunts-new-dough-for-bread-unit
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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