In a move that will create Britain’s largest food producer, Premier Foods PLC is planning to acquire arch rival RHM PLC for $2.43 billion. With this tie-up Premier Foods will add brands like Mr Kipling cakes, Hovis bread & Bisto gravy to its already strong portfolio, which boasts of household names like Branston Pickle, Angel Delight desserts Crosse & Blackwell products and Bird’s custard. This is Premier Foods’ second buyout this year after acquiring the Campbell’s Soup in July for $882 million. Premier Foods has no plans to sell any RHM brand acquired, as this deal has put it in a stronger position to stand up to the country’s powerful supermarket chains.
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Source : IIPM Editorial, 2006
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