Food group mulls Mr Kipling sale
Premier Foods is understood to be exploring a potential sale of its Mr Kipling cakes division as part of a review options for its business after coming under pressure from shareholders.
Selling Mr Kipling, part of a range of brands that also includes Angel Delight and Bisto gravy, is one of several options under consideration by the group as it presses ahead with a self-evaluation of its assets, The Times reported.
Premier Foods, which has a large site in Barnsley, is under pressure from Paulson and Oasis, two of its largest shareholders that between them own about 20% of the shares and this year secured seats on the company’s board.
Mr Kipling was created in 1967 and is one of Premier Foods’ best-performing lines. The brand is known for its “exceedingly good cakes” advertising catchline.
No formal decision is believed to have been made on a sale, while no buyer is said to have been lined up.
Premier Foods owns many well-known brands, including Ambrosia, Bird’s Custard, Homepride cooking sauces, Sharwood’s, Loyd Grossman sauces, Oxo, Bisto and Batchelors.
