Premier Food hunting for bread partner

6th Nov 2013 14:21

Branded foods group Premier Foods confirmed press speculation that it was looking to sell a slice of its bread business to private equity groups.The owner of Mr Kipling, Bisto, Oxo and Hovis said it has appointed financial adviser Ondra Partners "to assist in developing investment options for the bread business, which include co-investment by a partner". "There can be no certainty that a transaction will follow at any point in the future, but the company will provide updates as appropriate." The bread business, which includes branded flours and other bakery products, is the largest vertically integrated baker and flour miller in the UK.Hovis is among the top five grocery brands in the UK, with other division brands including Mother's Pride and Granary.Shares in Premier Food were up 4% to 145.63p at 14:15 on Wednesday.OH