Premier Foods is understood to have entered negotiations with the administrator of the beleagured UK snack food company Golden Wonder about the possible acquisition of the company’s remaining assets, including its brands.
An industry source told just-food this week that Premier Foods was one of around ten bidders in serious contention for the business. Among the other groups understood to be in talks for the business are a venture capitalist-backed bid by ex-Golden Wonder CEO Clive Sharpe, rival snack food company United Biscuits and Northern Ireland’s Tayto.
Tayto last week struck a deal to acquire Golden Wonder’s Corby production site and the rights to produce Mini Pringles on behalf of Procter & Gamble. However, the Irish group confirmed to just-food yesterday that it was still in talks to acquire other assets from administrator Kroll, including the Golden Wonder brand name.
Premier Foods is considered a serious contender for the business, however, despite not having any other snack food brands in its portfolio, a source has told just-food.
The company already owns a potato supply business and would therefore potentially be able to benefit from some vertical integration. It would also be one of the few groups with the marketing and distribution muscle to compete with the PepsiCo-owned Walkers business, whose dominance of the UK snack market was a primary contributor to Golden Wonder’s demise in the first place.
Premier Foods has so far not returned just-food’s phone calls.