FDBusiness.com

Former Premier Head Linked With Lucozade Bid

 Breaking News
  • Ishida X-ray Flexibility Ensures Premium Product Quality Ishida X-ray inspection technology is helping to maintain the premium quality reputation of one of Russia’s most popular traditional snack brands. The ‘ROSTRAGROEXPORT’ company was founded by Mr Boris Aleksandrov in 1995, who spotted a niche in the Russian food market for a good quality traditional curd snack.  Its ‘B.Y. Aleksandrov’ brand, named after the company’s [...]...
  • ‘Latte Levy’ – Coffee Drinkers Want to Go Green, But Price is a Barrier As the UK Government aims to eliminate avoidable waste with the announcement of its 25-Year Environmental Plan, Mintel research reveals that Britain’s coffee shop drinkers are happy to do their bit for the environment, but not at any cost. 40% of out of home hot drinks consumers wouldn’t mind paying extra for drinks served in 100% [...]...
  • US Beverage Alcohol Volumes Decline Again in 2017 The IWSR, the leading provider of data and analysis on the global beverage alcohol market, has released initial 2017 category results for the US market as part of its US Beverage Alcohol Review (US BAR) database. After analyzing preliminary 2017 volume, the IWSR says total US beverage alcohol consumption declined for the second consecutive year [...]...
  • Revised Safe Intake For 3-MCPD in Vegetable Oils and Food EFSA’s experts have used an updated scientific approach to reassess the possible long-term adverse effects of the food processing contaminant 3-MCPD on the kidney and male fertility. Consumption levels of 3-MCPD in food are considered safe for most consumers but there is a potential health concern among high consumers in younger age groups. In the worst [...]...
  • £500,000 Investment Doubles Advanced Dynamics’ Capacity Advanced Dynamics Ltd, one of the UK’s leading packaging and labelling equipment suppliers, has crowned a highly successful trading year with a significant investment totalling £500,000 in expanded premises, extended stock, additional jobs and a sophisticated new ERP system. The company started with the acquisition of a neighbouring unit that doubles its engineering capacity to around [...]...

Former Premier Head Linked With Lucozade Bid

Former Premier Head Linked With Lucozade Bid
August 07
13:41 2013

Michael Clarke, the former chief executive of Premier Foods, is reported to have joined international private equity group Kohlberg Kravis Roberts (KKR) to advise on making a £1.5 billion bid to acquire iconic British and international soft drinks brands Lucozade and Ribena from UK-based global pharmaceutical and healthcare group GlaxoSmithKline. The disposal is part of GSK’s efforts to reshape its business, improve strategic focus and enhance its growth profile.

Michael Clarke.

Michael Clarke resigned suddenly as head of Premier Foods at the start of the year after only 18 months in the job and part way through a turnaround programme. He was replaced by Gavin Darby.

KKR is expected to face stiff competition from other private equity groups, such as Blackstone and Lion Capital, in bidding for Lucozade and Ribena. Other private equity suitor could include Bain Capital, CVC Capital Partners and Onex of Canada.

Trade buyers believed to be considering bids including Suntory, the Japanese drinks giant, and UK-based AG Barr, which recently had a proposed merger with Britvic rejected.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 16, 2018Sival Plant Production Trade Show
  • January 17, 2018Anfas Food Product
  • January 17, 2018Dutch Organic Trade Fair
  • January 19, 2018International Green Week
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements