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May 28, 2019

Premier Foods ‘mulls sale of Mr Kipling cake brand’ as business review continues

UK-based Premier Foods is reportedly exploring a sale of its Mr Kipling cake brand, months after abandoning plans to dispose of its Ambrosia custard line.

By Dean Best

UK-based Premier Foods is reportedly exploring a sale of its Mr Kipling cake brand, months after abandoning plans to dispose of its Ambrosia custard line.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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London-listed Premier Foods is in the midst of a business review following the departure of chief executive Gavin Darby last year, with no indications yet of when the process is set to be completed. Speculation in the media has been rife as to what brands might be set for the chopping block from a portfolio that also includes Batchelors soups and Angel Delight desserts.

The Times newspaper yesterday reported no potential buyer has been lined up for Mr Kipling and Premier Foods may decide to retain the brand, although the paper did not disclose where its information came from. A company spokesperson declined to comment when contacted by just-food.

Meanwhile, the Press Association reported in April that Premier, which also owns Sharwood’s sauces and the Bisto gravy brand, had hired bankers at advisory firm d’Angelin & Co. to explore options for the business based in St Albans, Hertfordshire, now being run by chief financial officer Alastair Murray on an interim basis.

The Press Association said then it understood Premier had hired d’Angelin to help manage the process of breaking-up the group, reportedly under the behest of Paulson & Co., the food giant’s third-largest shareholder after Japan’s Nissin Foods and Oasis Asset Management. 

Premier pulled the plug on the planned sale of the Ambrosia brand in February because the board of directors “concluded that in the present business climate the process will not result in a satisfactory financial outcome”

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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