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
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Premier Foods (PFD)