Irish food and beverage group DCC is reportedly nearing a deal to buy Premier Foods plc’s Irish unit.
A report from The Sunday Times yesterday (11 December) claimed that DCC was close to acquiring a business that makes Erin soups and Gateaux cakes and distributes brands including Capri-Sun drinks and Lyle’s Golden Syrup.
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Premier’s Irish unit is expected to sell for EUR30-40m (US$39.6-52.8m), the report said, citing anonymous sources.
The UK food maker declined to comment when contacted by just-food. A spokesperson for DCC said the company’s “policy is not to comment on market speculation”.
The report was the latest speculation over the future of parts of Premier’s business. The company has had a difficult 2011. It has made two profit warnings, it is trying to refinance its debts and there are concerns over its pension responsibilities.
Under new CEO Michael Clarke, Premier is focusing on a group of eight brands and is looking to offload parts of its business to raise cash.
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By GlobalDataLast week, Premier announced a deal to sell its struggling own-label unit Brookes Avana to UK poultry-to-Fox’s biscuits owner 2 Sisters Food Group.
