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£460m spent on Campbell's UK
Acquisition of Campbell's UK, which includes Homepride Sauces, Oxo stock cubes, Fray Bentos Pies and Batchelors soups and noodles, means that brands account for 69% of sales £460m spent on Campbell's UK -
Premier swallows RHM for £1.2bn
Premier's £1.2bn acquisition of Rank Hovis McDougall (RHM) marked the start of what one M&A source said was Robert Schofield's "buying spree" that led to massive debts.
Was RHM acquisition beginning of the end? -
NPD drive to rebuild flagging Hovis fortunes
Major promotional drive planned for Hovis to reverse division's flagging fortunes. NPD drive to rebuild flagging Hovis fortunes -
Debt circa. £1.8bn and shares on the slide...
After Premier acquired Hovis maker RHM in 2007, its share value fell more than 90%, from a high of 335p on February 15 2007, to a low of just 32p, by October 22 2008. Shares on the slide -
Analysts warn deals could stunt Premier's growth
Investec Securities warns that Premier's growth is too dependent on promotional activity, putting its ability to “translate top line fizz into the bottom line recovery” increasingly in doubt. Deals could stunt growth, Investec warns -
Premier only 'scratches surface' on procurement savings: analyst
Premier Foods could save far more cash through tackling the “mind-boggling” complexity of its procurement operation than trying to squeeze out operational efficiency savings, according to City analysts.
Operational efficiencies squeezed out -
Analysts say Schofield's position 'untenable'
Analysts call for Schofield's headRobert Schofield’s position as ceo of Premier Foods is looking “increasingly untenable”, according to analysts at Investec. -
Ronnie Bell appointed chairman
Ronnie Bell parachutes inRonnie Bell appointed as non-executive chairman, after 30 years experience with Kraft, culminating in five years as president of Kraft Foods Europe. -
Premier performs financial operation on balance sheet
Premier explores new funding sources, as Shore Capital warns of pension liabilities and the firm's highly indebted status. Premier restructures debts -
£10,000 recruitment email casues storm
An email from Premier Foods inviting recruitment agencies to stump up £10,000 to participate in its 2011 Preferred Supplier Programme (PSP) is branded a “disgrace” by suppliers.
Recruitment email dubbed a disgrace -
Canned foods business sold to Princes for £182m
Monopoloy pie in sky for PremierPremier sells its canned grocery operations to Princes for £182m, including such iconic brands as Crosse & Blackwell, Fray Bentos and Smedley’s. However, in July the deal was referred to the Competition Commission by the Office of Fair Trading. -
Quorn md blames meat-free blues on under-investment
Quorn's ceo Kevin Brennan told FoodManufacture.co.uk that under-investment from Premier was reason why its meat-free business failed to thrive. This followed Exponent Private Equity and Intermediate Capital Group’s purchase of Quorn and Cauldron businesses. Quorn ceo speaks to FoodManufacture -
Robert Schofield to leave...within 12 months
Schofield to leave ... within 12 monthsPremier announces that ceo Robert Schofield will retire once a successor has been appointed, and no later than April 28 2012. -
Red carpet rolled-out for jittery City at 'investor day'
Premier Foods hosts an investor day to convince sceptical analysts and investors that its business strategy is sound. Red carpet rolled out for jittery City -
Enter the 'white knight', exit Schofield...
Enter the 'white knight'...The City expresses relief as Mike Clarke from Kraft Foods is appointed as ceo, after what one analyst described as a "disastrous" half-year trading statement.
