Premier Foods, the struggling food manufacturer, has completed the previously announced sale of its vinegar and sour pickles, including the Sarson's, Hayward's and Dufrais brands to Japanese firm Mizkan.
The business was sold for a cash consideration of £41m on a debt free and cash free basis.
Premier is currently re-focusing its business to centre around eight 'Power Brands', including Hovis, Oxo and Mr Kipling.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Sarson's and Hayward's brands are the leaders in their respective categories of malt vinegar and pickles in vinegar while Dufrais is the number two brand in speciality vinegar.
NR
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
