Premier confirms bids for Quorn
In the face of press speculation that it was about to offload its meat-free business, the Hovis bread to Branston Pickle group Premier Foods told shareholders today (3 December) that it remained "open minded" about disposals.
In a stock exchange announcement, Premier said it noted the recent press speculation regarding its meat-free business and re-affirmed it remained "open minded about disposals, provided they deliver shareholder value and accelerate the reduction of average net debt".
The Group announced in October that it had received approaches for the meat-free business, including Quorn. It went on: "Premier Foods confirms that it has received bids from a number of parties, including multinational food groups and private equity firms. Discussions are proceeding and are at an advanced stage with two parties." One of the interested pair is said to be the Swiss food and beverage conglomerate Nestle.
