Britain’s biggest food manufacturer Premier Foods has been fined £15,000 for the illegal discharge of effluent into the Severn Trent Water’s sewer system.
News that debt-laden giant Premier Foods plans to axe 900 jobs, close two bakeries and restructure its distribution system was greeted with fury by unions and applause by City analysts.
Britain’s biggest food manufacturer Premier Foods has appointed Geoff Eaton, formerly ceo of Uniq, as chief operating officer and executive director to “accelerate transformation” within the debt-laden giant.
The coming year looks set to be a pivotal one for Premier Foods. City analysts suggest that the UK's largest food producer would need to have turned around its fortunes by 2014 or risk breaching its financial covenants.
Premier Foods has called on its shareholders to approve the proposed sale of its sweet spreads and jellies business to the Hain Celestial Group for £200M.
Britain’s largest food manufacturer has signed a £15M deal with the Ministry of Justice to supply all publicly-run prisons in England and Wales with Hovis and Mother's Pride bread.
Food manufacturing giant Premier Foods is “no longer the basket case” that ceo Michael Clarke inherited a year ago after the sale of its spreads business, according to City analysts.
Michael Clarke, ceo of Premier Foods, is performing a creditable job of reviving the fortunes of the debt-laden food giant but still faces tough challenges, according to City analysts.
Premier Foods’ factory is “very unlikely” to be the source of the Loyd Grossman korma sauce botulism incident, according to a final report by Health Protection Scotland, published last week (August 10).
Britain’s biggest food manufacturer Premier Foods expects to achieve efficiency savings of £40M earlier than expected as a result of its restructuring plans, it emerged in its half-year results released today.
Debt-laden Premier Foods has sold its Elephant Atta ethnic flour business to Westmill Foods, a subsidiary of Associated British Foods (ABF), for £34M cash.
Premier Foods continued to hit the headlines over the past month. Rumours of an impending sale of its Hartley's jams brand to US group Hain Celestial for around £200M followed hot on the heels of the announcement that the food group had sold its...
Premier Foods’ facilities at Histon and Knighton remain “prime candidates” for sale, after the firm’s disposal of its vinegar and sour pickles business based at Middleton, last week to Mizkan for £41M, according to City analyst Panmure Gordon.
Premier Foods is winning back City analysts' support under the direction of chief executive Michael Clarke, whose restructuring plans have restored their confidence.
Disposals are essential if Premier Foods is to service net debt, which is likely to remain at £1.2bn this year, warns financial specialist Panmure Gordon.
Premier Foods is remaining tight-lipped about press reports that private equity firms are competing to buy the firm’s spreads business, which includes Sun-Pat and Hartley’s Jam.
The UK’s largest food producer Premier Foods posted sales up 1.3% to £427M in the first three months of this year but left city analysts questioning its margin performance.
Premier Foods’ all-important Power Brand plan has been questioned by city analysts who expressed concern over the strength of some of the firm’s core brands.
The acquisition of up-for-sale Ragu manufacturer Symington’s could be the key to unlocking the success of Premier Food’s non-core brands, according to city analysts, after reports of private equity interest in the businesses.
Tumbling bread sales in the UK and an over aggressive acquisition strategy from previous management has significantly contributed to Premier Foods’ share price plummeting more than 90% since its purchase of Hovis in 2005.
Premier Foods still has “a long way to go” following its key re-financing deal, according to city analysts, after the firm revealed a 29% fall in trading profit last year.
Premier Foods is stepping up its Power Brand plan after announcing a major TV advertising push as md Michael Clarke continues his plan to stabilise the business after a troubled 2011.
Hatches, matches and dispatches dominated the food manufacturing news in 2011. In the second of our two-part series, we showcase the most five most popular news articles of the year published on FoodManufacture.co.uk.
From business takeovers to factory closures, it has been another busy year for UK food and drink manufacturers. Relive the highlights by viewing the five most popular news articles published on FoodManufacture.co.uk during the past six months.
City analysts have cast doubt on Premier Foods’ Power Brand plan fearing the necessary disposals will not be achievable due to the firm’s “substantial” debt levels.
Premier Foods’ faith in its eight Power Brands was shaken this weekend after a batch of Loyd Grossman sauces were recalled after two people contracted botulism from the product.
Analysts believe that Premier Foods will come under intensifying pressure to sell off some of its businesses following this week’s deal with its banks.
Struggling Premier Foods has been handed some much-needed respite in its quest to renegotiate its debt arrangements after its banks agreed to a deferral of its forthcoming covenants test.
Troubled food giant Premier Foods still has a mountain to climb despite ceo Michael Clarke’s decision to restructure the business and appoint two new managing director (mds), according to city analysts.
As pressure mounts on troubled food giant Premier Foods, the firm clarified its Power Brand strategy based on stronger supplier partnerships and hired the financial services firm PricewaterhouseCoopers to handle crunch talks with its banks.
Analysts are growing increasingly edgy about the prospects for Premier Foods, with the company now almost certain to breach its agreements with lenders.
Princes has confirmed that it has completed the acquisition of Premier Foods' canning operations, but that the Fray Bentos business continuing to operate independently until a buyer is found.
Premier Foods is consulting with 140 staff employed over the closure of its Hovis head office in Windsor, with some job losses possible, while further redundancies will occur at the division's Avonmouth bakery.
Analysts at Shore Capital have described Premier Foods half yearly trading statement released today as “shocking, even by Premier’s standards”, as the company revealed a significant slump in profits for the first half of 2011.
Greencore has refused to comment on rumours that it has appointed bankers to explore a possible £100m takeover of chilled food group Uniq, while Brookes/Avana may also be on the firm's radar after Premier Foods said it is willing to consider offers...
Premier Foods has today announced that its chief executive, Robert Schofield will be retiring once a successor has been appointed and no later than April 28 2012.
