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May 2, 2006

UK: Premier considering UB and Campbell acquisitions

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.

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.

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