Premier Foods would consider selling some of its non-core businesses despite the fact that it has already turned down “a number” of approaches, the heavily-indebted UK food group has told just-food.
Following speculation in the UK press that Premier was considering selling its Mr Kipling cake brand, the company received an unspecified number of approaches from interested parties, a spokesperson for the company revealed yesterday (18 November).
These included speculative approaches from groups who were yet to secure funding, private equity interest – which again had question marks over funding – and approaches from parties who had secured necessary funding. Of the third category, the question then became whether the offer delivered good economic value, the spokesperson said.
Premier admitted yesterday that it had turned down a GBP250m bid for Mr Kipling from McVitie’s maker United Biscuits.
There is no bid for Mr Kipling currently on the table and the spokesperson added that the group is not currently planning to sell the business.
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By GlobalDataWhile Premier has been looking at the possibility of non-core disposals, the crisis in the credit markets is hampering interested parties ability to raise necessary funds, the company indicated.
