Premier Foods plc
Just a week after dropping its interest in Premier Foods, McCormick & Co. announced the acquisition of Australian chilled herbs firm Botanic...
Three weeks after Premier Foods revealed McCormick & Co.'s interest in buying the UK group, its US suitor has, after seeing three proposed o...
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.
Codes governing the relationships between retailers and manufacturers have made headlines in the UK and Australia. However, recent headlines in the UK have shone a spotlight on dealings between manufacturers and their suppliers - and Ben Cooper mulls whether the scrutiny could move towards that part of the supply chain.
Food manufacturers are catching some flack for extending payment terms to their suppliers. The growing tension in the supply chain points to the pressure manufacturers are themselves facing in the current trading environment - and their need to free up cash flow in the balance sheet. But, in a charged political atmosphere, manufacturers should tread carefully, Katy Askew suggests.
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.
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.
Nissin Foods Holdings, the Japanese noodle maker, has increased its stake in Premier Foods, the UK group that is a takeover target of US spices giant McCormick & Co.
Lawrence Kurzius, the president and CEO of McCormick & Co., today (29 March) insisted the portfolio of takeover target Premier Foods has brands that are "very complementary" to the US spices and seasonings group's own range.
McCormick & Co. said today (24 March) it would consider making a higher offer for Premier Foods, the UK group that has so far rebuffed two takeover approaches, should the US spices and sauces owner be allowed to undertake some due diligence on the Bisto gravy maker.
Premier Foods today (24 March) insisted its board would assess "improved proposals" to buy the Bisto gravy maker after rebuffing two approaches from McCormick & Co., the US spices and sauces maker, in the last month.
Japanese food giant Nissin Foods Holdings has agreed to acquire a 17.27% stake in Premier Foods plc a day after the Mr Kipling owner revealed it has turned down two takeover approaches from US spice maker McCormick & Co.
McCormick & Co. today (23 March) insisted its proposal to buy Premier Foods - rebuffed by the Mr Kipling maker - "should be well received" by the UK group's investors.
Premier Foods, the UK group behind brands like Mr Kipling and Ambrosia, has rejected takeover interest from US spices and condiments group McCormick - while announcing a "co-operation agreement" with Japan's Nissin Foods Holdings.
Food manufacturers and retailers operating in the UK - including Nestle, Unilever, Tesco and Asda - have signed up to cut food and drink waste in the country by a fifth in ten years.
Premier Foods has detailed plans to expand Ambrosia with the launch of two lines that extend the brand into the frozen aisle and the "premium" ambient fixture.
Premier Foods plc is claiming a category first with the launch of an American range of sauces under the Homepride brand in the UK.
Premier Foods, the UK food group. is to launch two more Mr Kipling products in its domestic market.
Premier Foods has posted a 0.3% increase in sales to GBP586.2m (US$830.2m) for the first nine months of its financial year, helped by sales growth in its sweet treats division.
Premier Foods has defended its decision to move from the use of free-range eggs to barn eggs in its cake products, insisting the switch was necessary for the UK group to continue "providing good value-for-money" to its customers.
Danish family-owned baker Givesco Bakery this week acquired Sweden's Almondy, a move it says will broaden its presence across Europe. Danone became the latest food major to outline commitments on emissions and Maggi noodles returned to shelves in India.
Premier Foods booked a return to growth this morning (10 November), marking the first time that the Mr Kipling maker has posted an increase in branded revenue for two years.
Premier Foods plc is launching Cadbury Hot Cakes in a bid to extend the brand into "after dinner" desserts in the UK and increase its appeal to older consumers and two-person households.
Kerry Group is extending ethnic food brand Sharwood's into the UK frozen ready meals category with the launch of a Takeaway line.
Premier Foods is hoping to "reinforce the craftmanship" it claims is behind its cake brand with Mr Kipling with the addition of new products to its range.
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.
Premier Foods plc (PFD) - Financial and Strategic SWOT Analy
Premier Foods plc (Premier Foods) is a food manufacturing company. It manufacturers and supplies branded and non-branded food products to retail, wholesale, and food services markets....
Frozen Bakery Products Market by Type, Distribution Channel,
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