Premier Foods: Mr Kipling Sale Would Be 'Exceedingly Good'
Published on May 29 2019 8:25 AM
Media reports have suggested that Premier Foods is looking to sell its Mr Kipling cakes brand, paving the way for a possible breakup of the company.
Premier Foods shares up were up around 1% on the back of the news, at 36.3 pence.
Mr Kipling cakes was the best performing brand for Premier Foods in the last full year, with annual growth of 12%.
'Exceedingly Good Cakes'
The brand dates back to 1967, and is long known for its 'exceedingly good cakes' slogan.
Premier Foods launched a strategic review in January after the former CEO, Gavin Darby, stepped down under shareholder pressure.
Overall, Premier Foods' stock was down around 23% during 2018, but has risen 10% in the year-to-date.
News by Reuters, edited by Donna Ahern, Checkout.