Premier Foods today (2 May) said that it was considering possible acquisitions from within rival snack manufacturer United Biscuits and the Campbell Soup Company but, the company told just-food, it would not presently disclose which brands it was interested in.
Reports in the UK press have suggested that Premier had formed a consortium, made up of another trade buyer and two private equity groups, to bid for parts of UB and Campbell’s.
“Premier confirms that it is at a preliminary stage in evaluating a number of opportunities which could potentially meet its acquisition criteria for value creation. However, there can be no assurance that any of the opportunities will lead to a transaction,” the company said in a statement.
In February UB appointed Goldman Sachs to undertake a strategic review of the business, including a sale or flotation, while in March Campbell Soup said it was considering the sale of its businesses in the UK and Ireland, including household brands like Homepride, Batchelors and Oxo.
A Premier spokesperson told just-food that the company was, as yet, unwilling to identify the specific UB and Campbell’s businesses that it is eyeing.