Tue, 24 Jan 2012 | DIVISION SALE
Premier Foods has commenced the sale of its Sarson’s Vinegar brand in a bid to secure new loan terms with its bankers by the end of March.
The sale of the Middleton pickles business - including Sarson's - also comes as Mike Clarke, the new chief executive, works to turn the company around.
The food group has also sped up the disposal process for its jams business, which has been on the market for some time already. It has been predicted that Hartley’s will be valued at around £170 million - £200 million.
It is thought the Sarson’s vinegar brand, which has been going for over two centuries, will generate £30 million in a sale. Potential buyers, bankers said, include food producer Symington’s, Princes, and oil and condiment firms based overseas.
Though a very old brand, Sarson’s is still a very popular condiment added to nearly nine in every ten portions of chips, the Financial Times said.
In November, Premier Foods’ lenders, headed by Royal Bank of Scotland and Lloyds Bank, granted the troubled company a grace period to the end of March. Premier aims to agree new loan terms in February.
Premier Foods share price has remained at around 30p for most of the past two years, where at its peak in 2007 the share price was 300p.
Serves both sole traders and blue-chip organisations throughout the UK and internationally. Products include, but are not limited to, valves, tubes, steam equipment, strainers, filters, flanges and thermometers. Offers bespoke process products to mat...
LEASEHOLD
Specialist in-house expertise in the design and development of a range of innovative beer dispensing equipment. Predominantly provides services to high-value, blue-chip clients in the brewing industry. Long-standing relationships with several prestig...
LEASEHOLD
Specialises in low-carbon energy generation and biomass fuels including wood-fuel drying and processing, renewable electricity generation and on-site wood pellet production for the wholesale and industrial markets. Offers invited.
FREEHOLD
|
24
|
|
Jun
|
Digital account provider snapped up by Morses Club | BUSINESS SALE
Sheffield-based U Holdings Limited, which trades under the n...
|
21
|
|
Jun
|
Property business merger creates £400 million company | MERGER
A housing specialist that works on new and refurbished premi...
|
20
|
|
Jun
|
Prescription start-up acquired by healthcare giant for undisclosed sum | BUSINESS SALE
A UK start-up company that helps individuals manage their su...
Sign up to receive our acquisition alert emails to get your FREE guide
|
23
|
|
May
|
Fintech company Loot collapses into administration | ADMINISTRATION
After failing to secure further backing from the Royal Bank ...
|
08
|
|
Oct
|
Housebuilder turnaround may net owners a fortune | BUSINESS SALE
Derbyshire-based Avant Homes is reportedly being groomed for...
|
19
|
|
Jul
|
Food giant to potentially sell parts of its business | DIVISION SALE
Facing mounting debt and unpopular management, Premier Foods...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources