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Premier Foods Buys Rest Of Knighton Foods For Nominal Sum

Tue, 24th May 2016 15:56

LONDON (Alliance News) - Premier Foods PLC on Tuesday said it has acquired the remaining shares of Knighton Foods Ltd it did not already own for a nominal amount.

Premier, the owner of Bisto gravy and Mr Kipling cakes, said in March it would seek to acquire the 51% of Knighton it does not already own after concluding a joint venture structure was not the best way to handle its investment in the company.

As a result, Knighton is now a 100%-owned subsidiary of Premier Foods.

Knighton makes instant dry power food products for retailers, food service customers and brands.

Premier Foods shares closed up 0.3% at 40.125 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

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