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Tag "Michael Clarke"

Premier Foods Disposing of Sweet Spreads and Jellies Business to Hain Celestial

    Premier Foods Disposing of Sweet Spreads and Jellies Business to Hain Celestial

Premier Foods has agreed to sell its sweet spreads and jellies business, including the Hartley’s, Robertson’s, Frank Cooper, Keiller, Gales and Sun-Pat brands, to The Hain Celestial Group for a cash and share consideration of £200 million. The sale, which is subject to approval by Premier Foods’ shareholders and consent from Premier Foods’ banking syndicate, […]

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Stability Returning to Premier Foods

    Stability Returning to Premier Foods

UK food processor Premier Foods has reported that its underlying business sales increased by 1.1% to £757.1 million in the six months to 30 June 2012, an increase of £8.0 million compared to the prior year, and that underlying business trading profit increased by 3.2% to £53.2 million. As Premier Foods is undergoing a period […]

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Premier Foods Sells Ethnic Flour Business to ABF

    Premier Foods Sells Ethnic Flour Business to ABF

Premier Foods has sold its Elephant Atta ethnic flour business to Westmill Foods, a subsidiary of Associated British Foods, for a cash consideration of £34 million. The agreement represents another step in Premier Foods’ strategy to prioritise investment behind its ‘power brands’ and divest selected, non-core businesses.
Elephant Atta is the UK’s leading brand of ethnic […]

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Profits Plunge at Premier Foods

    Profits Plunge at Premier Foods

Premier Foods has reported a 29.3% drop in trading profit for ongoing business to £173.7 million for 2011 on sales down 3.4% to £1.81 billion. The UK food group has been disposing of assets to reduce its debt mountain. The sales of the Meat-free, Canned grocery and Brookes Avana businesses realised total net proceeds of […]

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Premier Foods Launches £50 Million Marketing Push Behind Power Brands

    Premier Foods Launches £50 Million Marketing Push Behind Power Brands

Premier Foods has commenced a concerted programme of TV advertising as part of its strategy to double marketing spend to more than £50 million in 2012 to help restore growth. Investment is being prioritised behind the company’s eight Power Brands of Ambrosia, Batchelors, Bisto, Hovis, Loyd Grossman, Mr Kipling, Oxo and Sharwood’s with TV spots […]

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Premier Foods to Make Further Disposals

    Premier Foods to Make Further Disposals

Premier Foods is reported to be planning to sell its Hartley’s jams and Haywards pickles businesses in order to raise upwards of £200 million and to reduce its debt burden. The UK food group recently disposed of its loss-making Brookes Avana business, comprising RF Brookes chilled foods and Avana Bakeries, to 2 Sisters Food Group […]

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Premier Foods Sells Four Irish Brands For €41 Million

    Premier Foods Sells Four Irish Brands For €41 Million

Premier Foods is selling its four Irish brands comprising Chivers, Gateaux, McDonnells and the Erin licence to The Boyne Valley Group for a gross cash consideration of €41.4 million. The disposal represents a further step in Premier’s strategy to focus investment behind its eight ‘power brands’ and follows its recent announcement to sell its chilled […]

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Premier Foods Sells Brookes Avana to 2 Sisters For £30 Million

    Premier Foods Sells Brookes Avana to 2 Sisters For £30 Million

Premier Foods has agreed to sell its loss-making Brookes Avana business comprising of RF Brookes chilled foods and Avana Bakeries to 2 Sisters Food Group for £30 million in cash. The move represents an important step in streamlining Premier’s portfolio following its announcement in October that it will focus investment behind eight ‘power brands’ and […]

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New Finance Director at Premier Foods

    New Finance Director at Premier Foods

Michael Clarke, who joined Premier Foods during the summer as chief executive, has completed assembling his new leadership team with the appointment of Mark Moran as executive director and chief financial officer, replacing Jim Smart, who joined the group in 2009. Mark Moran’s most recent appointment was as group finance director of SSL International, a […]

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Changes to Leadership Team at Premier Foods

    Changes to Leadership Team at Premier Foods

UK food group Premier Foods has announced changes to its leadership team to strengthen focus on the company’s renewed growth plan, under new chief executive Michael Clarke. In the new structure, commercial leadership responsibilities will be split between the grocery and newly configured bakery businesses with the creation of two new group executive roles of […]

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Profits Warning From Premier Foods

    Profits Warning From Premier Foods

Michael Clarke, the new chief executive of Premier Foods, has warned that full year trading profit is likely to be below market expectations. Trading in the UK food manufacturing group’s third quarter illustrates that the consumer environment remains challenging. Premier’s grocery division will not meet last year’s profit in the second half as previously expected. […]

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Management Buyout Speculation at Green & Black’s

    Management Buyout Speculation at Green & Black’s

Management at Green & Black’s, the UK-based organic chocolate manufacturer, are reported to be seeking a buy-out of the business from owner Kraft Foods. The US food group acquired Green & Black as part of its £11.7b takeover of Cadbury last year.
Founded by entrepreneur Craig Sams in 1991, Green & Black’s was sold to Cadbury […]

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