FDBusiness.com

Premier Foods to Dispose of Vinegar and Sour Pickles Business

 Breaking News
  • Glanbia Cheese Joint Venture to Build New €130 Million Mozzarella Cheese Facility Glanbia Cheese, the joint venture business between Glanbia plc and Leprino Foods, plans to build a new, world-class mozzarella cheese manufacturing facility in Portlaoise, County Laois, Ireland. A site for the new facility has been identified at the recently established Togher National Industrial Estate in Portlaoise. A total of €130 million will be invested in [...]...
  • PepsiCo Reveals the 10 Finalists Joining its 2018 Nutrition Greenhouse Programme PepsiCo has announced the 10 entrepreneurs that will form the second class of its health and wellness incubator in Europe. First launched in 2017 to support the next generation of food and beverage entrepreneurs, the PepsiCo Nutrition Greenhouse programme offers each of the 10 participating companies a €20,000 grant, and access to PepsiCo mentors and experts to take [...]...
  • PureCircle Increases Capacity to Supply Reb M PureCircle, the world’s leading producer and innovator of stevia sweeteners, has announced that its recent advances in expanding capacity now enable it to supply significantly more Reb M to global beverage and food companies. Using beverage sweetening as an equivalized example, PureCircle can now supply enough Reb M to sweeten about 500 million cases of zero-calorie [...]...
  • Introducing the Propack Synchronized Staging Transfer Model PSST/120 Propack has announced a new, economical, safe product delivery system that uses stepper servo technology to receive randomly presented products from baggers, pouchers and flow wrappers to synchronise product delivery to high-speed cartoning machines. With a maximum packing rate of 120 packs per minute (PPM) to 80 twin PPM (depending on product size), the PSST/120 [...]...
  • Bel to Produce Mini Babybel at its First Canadian Factory Bel Group, a world leader in branded cheese and a major player in the healthy snack market, plans to build its first Canadian plant in Sorel-Tracy, Quebec. The facility, which is scheduled to begin commercial production in early 2020, will be fully dedicated to producing Mini Babybel® cheese. These dairy snacks encased in small and [...]...

Premier Foods to Dispose of Vinegar and Sour Pickles Business

Premier Foods to Dispose of Vinegar and Sour Pickles Business
June 19
09:35 2012

Premier Foods is selling its vinegar and sour pickles business, including the Sarson’s, Haywards and Dufrais brands, to Japan-based Mizkan, for a cash consideration of £41 million. The sale is expected to complete by the end of July 2012.

The disposal represents a further step in Premier Foods’ strategy to prioritise investment behind its eight ‘power brands’ and divest selected, non-core businesses.

For the year ended 31 December 2011, the vinegar and sour pickles business had reported revenues of £34.0 million and EBITDA of £6.2 million. The gross assets of the business being sold as at 31 December 2011 were £31.7 million. The proceeds of the sale will be used to pay down debt.

The Sarson’s and Haywards 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. The brands are predominantly manufactured at the group’s Middleton factory, near Manchester, and all employees at the site are expected to transfer to the buyer.

The transaction includes the production, distribution, sales and marketing of the Sarson’s, Haywards and Dufrais brands, the associated private label business, the Middleton site and the pickled beetroot and piccalilli lines at Premier Foods’ Bury St Edmunds factory.

Premier Foods and Mizkan have entered into a co-packing agreement pursuant to which Premier Foods will continue to manufacture Haywards pickled beetroot and piccalilli for Mizkan at its Bury St Edmunds site for a period of up to 12 months.

Mizkan is one of the leading vinegar manufacturers in the world with operations in Japan, the US, the UK and other Asian countries. It has a stable of well-known international brands under the ‘mizkan’ umbrella brand and is a leader in the liquid condiment category.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements