UK food manufacturers are dangerously overstocked and could be missing out on an average cash windfall of more than £76k as they recover from last year’s ‘overstocking crisis’, according to inventory management software provider Unleashed.
Premier Foods has attempted to steady market jitters following press reports yesterday [June 29] suggesting it might be about to make a major change in direction following a ‘strategic review’ of its activities as its share price ‘languishes’.
Mondelēz International has abandoned its pursuit of US confectionery giant Hershey, the company announced yesterday (August 29), after its $23bn (£18bn) offer was rejected.
The takeover bidding battle for Premier Foods is hotting up, with US spice and herb firm McCormick raising its bid from an initial 52p a share to 65p, valuing the Mr Kipling manufacturer at about £1.5bn.
Premier Foods would welcome an improved offer from US suitor, spice firm McCormick, or offers from other firms, the manufacturer has re-confirmed, while complaining about press reports which, it claimed, overstated its debt and pension deficit.
Reports that Premier Foods could be about to sell its Hovis brand to the Los Angeles-based Gores Group have been welcomed by City analysts Shore Capital.
Premier Foods is remaining tight-lipped about reports that the Mexican bakery Grupo Bimbo may acquire its troubled bread division, as the firm’s short-term prospects divided City opinion.
City analysts remain doubtful about media reports speculating Premier Foods is considering selling its Hovis brand to the world’s biggest baker Grupo Bimbo.
Dairy Crest chief executive Mark Allen has netted £328,751, after selling shares in the firm to fund the purchase of a new family home following his recent divorce.
Three City analysts have welcomed Premier Foods’ six-month results but continued to worry about the food manufacturer’s growth prospects and debt burden.
Soft drinks firm Britvic has signalled its willingness to renegotiate the terms of its merger with business rival AG Barr or abandon the deal, after the Competition Commission issued a final approval yesterday (July 9).
Britain’s biggest food manufacturer Premier Foods will seek refinancing over the next six to 18 months to further improve its balance sheet, predicts City analyst Shore Capital.
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.
Premier Foods has refused to comment on speculation that it has agreed a new deal with its lenders after the firm’s share price rose 6.5% to 12p yesterday (28 February).
The decision by chilled foods group Greencore to transfer its share currency denomination from euros to sterling has further increased its value to potential investors, according to city analysts.
Ranjit Boparan is one step closer to taking over Northern Foods after announcing yesterday that he now controls over 70% of the convenience food group’s shares, although one analyst said the industrial logic of a tie-up with Greencore would have been...
Ranjit Boparan today urged Northern Foods shareholders to accept his offer for the firm “as soon as possible” after Greencore pulled out of the running, and revealed that he has now acquired, agreed to acquire or has valid acceptances for 48.25% of Northern’s...
The battle between food titans Greencore and Ranjit Boparan to take over Northern Foods could still go right to the wire, despite the expiry today of a deadline set by the latter for Northern's shareholders to formally accept his bid.
Ranjit Boparan has failed to secure a controlling stake in Northern Foods that will guarantee the immediate success of his takeover bid, after revealing last night that 23.03% of Northern shareholders accepted his offer, but remains in pole position to...
While Greencore could find it hard to trump Ranjit Boparan’s 73p-a-share offer for Northern Foods on its own, it could always team up with another buyer to seal the deal, according to City analysts.
The entrepreneur contemplating breaking up the arranged marriage between Northern Foods and Greencore has been told to put up or shut up by January 21.
Premier Foods is in advanced negotiations with two potential buyers over the sale of its meat-free business, but has received bids from a number of parties, including “multinational food groups and private equity firms".
Premier Foods remains ‘open-minded’ about selling off assets - including its meat-free business - to pay off debts, provided the price is right, bosses have confirmed.
