Premier Foods plc
Premier Foods plc is a UK-based food manufacturing company. Founded by Harry Solomon in 1976, Premier Foods plc is a public company, listed on the London Stock Exchange as PFD. The head office for Premier Foods plc is located in St Albans, England.
This week's profit warning from Premier Foods plc dismayed the market with analysts expressing concern about the UK group's ability to pass...
"I've been to several meetings on this particular subject, most of which have ended up in a feeling of great depression, where I think suici...
Just a week after dropping its interest in Premier Foods, McCormick & Co. announced the acquisition of Australian chilled herbs firm Botanical Food Co. When the US herbs and spices giant's interest in Premier emerged, McCormick said it had a "pipeline" of targets and industry watchers expect the company to continue to look to M&A for growth.
Three weeks after Premier Foods revealed McCormick & Co.'s interest in buying the UK group, its US suitor has, after seeing three proposed offers turned down, decided to walk away from the table. Premier insists it has a "strong future" as an independent company. Dean Best reflects on a tumultuous 21 days and considers what lies ahead for the Mr Kipling maker.
Here just-food presents rolling coverage and analysis of the takeover interest in Premier Foods from McCormick & Co. Premier rebuffed three proposals from the US spices and seasonings group, while Japan's Nissin Foods Holdings, which outlined a "co-operation agreement" with the UK group in areas such as innovation and distribution, built a stake in the Mr Kipling maker. McCormick has decided against pursuing its interest in the UK group.
Rationalisation of SKUs and innovation will continue to form a big part of Premier Foods plc's focus for 2015, CEO Gavin Darby has said.
With growth hard to come by at home, international markets are an opportunity for UK food group Premier Foods. The Mr Kipling maker exports to around 30 countries but in recent months has set up a specific business unit to develop a sustainable presence overseas. Dean Best spoke to Peter Ellis, the head of division, at the SIAL trade show in Paris to hear about the company's plans.
Premier Foods has strengthened its financial position and is building profitability through a focus on cost reduction. However, the UK company is finding the going tougher as it looks to accelerate its sales growth. Chief executive Gavin Darby spoke to just-food about how Premier is adapting to the changing landscape in UK grocery retail.
Premier Foods, the UK group behind brands including Mr Kipling cakes and Ambrosia custard, today (18 January) warned annual profits could be 10% lower than it expected, in part due to its struggles in passing on Brexit-linked cost increases.
Premier Foods, the UK group behind brands including Bisto and Mr Kipling, is in talks with retailers over the possibility of raising prices on its products to cover increased costs in the wake of Brexit.
Premier Foods has indicated it wants a longer-term deal for the Cadbury cake licence the UK group holds from brand owner Mondelez International on a 12-month, rolling basis.
Premier Foods plc today (15 November) reported declines in first-half underlying revenues and in profits as the UK group saw a fall in like-for-like sales in the second quarter, higher marketing spend and tax expenses weigh on its half-year results.
Premier Foods plc today (15 November) outlined three ways in which the UK company and Japan's Nissin Foods Holdings will join forces in the coming months.
Premier Foods plc has booked a 5.4% fall in revenue for the second quarter of its financial year, with the UK group saying the warm weather in September hitting categories such as gravy mixes and desserts.
Rhodes Food Group, the South African company, said today (4 October) it plans to buy local spices and condiments business Pakco.
The chairman of the Premier Foods plc board, David Beever, has signalled his intention to stand down from his post.
Premier Foods plc has added a premium Sensational Stuffing line to its Paxo stuffing range.
Premier Foods has developed ready-to-use gravy sauces under the Bisto brand in the UK in a bid to target consumers wanting more convenient products.
Premier Foods reported continued positive progression on its sales this morning (21 July), when it delivered its fourth consecutive quarter of revenue growth.
UK food maker Premier Foods plc is working to grow sales of gluten-free snacks to capitalize on the rising number of consumers who are cutting gluten from their diets.
US spice and condiments maker McCormick & Co has announced the appointment of Michael Smith as executive VP and CFO with effect from 1 September 2016.
UK voters have spoken: Britain will leave the European Union. With the vote tally now reporting 51.9% of people back leaving commentators are turning to the future with uncertainty. What will Brexit mean for the food sector?
The head of a leading Indian imports firm has urged UK food exporters to help satisfy India's growing appetite for speciality foods, including gourmet, health and organic, in a country where consumers are increasingly "food-loving and food-curious".
Premier Foods has taken full control of its powdered drinks and desserts joint venture, Knighton Foods.
Premier Foods, the UK group behind Mr Kipling cakes and Sharwood's cooking sauces, has announced a series of measures to make its products healthier.
Premier Foods revealed a stronger finish to 2015, with the growth in sales of branded and non-branded products accelerating in the fourth quarter.
McCormick & Co. has dropped plans to make a takeover bid for Premier Foods plc, insisting the price the UK group's board wants is too high.
Premier Foods today (6 April) revealed it has had "constructive discussions" with McCormick & Co., the US herbs and spices maker that has expressed interest in buying the UK group.
US spice maker McCormick & Co. has returned with a higher proposed offer for Premier Foods, on the condition the Mr Kipling maker opens its books.
Premier Foods has turned down the latest proposed takeover offer from McCormick & Co. - but the UK group said it was prepared to meet and provide its US suitor with some due diligence.
The conference calls companies hold with equity analysts can, on occasion, be relatively tame affairs, with businesses sometimes not pushed on issues and us in the media - allowed to listen only - sitting on the phone and wanting executives to be pressed on their initial answers. Yesterday (29 March), some stiff questions were put to McCormick & Co.'s management over its interest in Premier Foods.
The takeover interest in Premier Foods was a hot topic of conversation among delegates at the Consumer Analyst Group Europe conference today (23 March) - not least because the UK group pulled out of presenting at the event this afternoon.
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