The business, which includes the Sarson’s, Hayward’s and Dufrais brands, was sold for £41M on a debt-free and cash-free basis, in a deal that was agreed in mid-June.
All three of the brands are manufactured mainly at a factory in Middleton, Manchester, and all employees at the site are expected to transfer to the buyer.
Sarson’s and Hayward’s are leaders in their respective categories of malt vinegar and pickles in vinegar, and Dufrais is the number two brand in speciality vinegar.
Premier said the deal was further progress in its strategy of prioritising investment in its eight power brands and divesting selected non-core business.
Kazuhide Matazaemon Nakano, ceo of Mizkan, said: “We are deeply excited to acquire two strong and iconic brands that have such a deep heritage in the UK. Sarson’s and Hayward’s are beloved by their consumers and we look forward to investing in the brands and adding to their legacy.
“They fit well with our global portfolio, are an excellent strategic fit and provide a solid foundation for growth in the UK.”