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
-
Saba Capital and Boaz Weinstein respond to investment trustsAs investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
-
How to find top-quality companies with growing dividendsIan Mortimer, portfolio manager of Guinness Global Equity Income Fund, shares where he would put his money for sustainable and growing dividends
