Batchelors Sale Has Not Passed 'Exploratory Stage' Says Premier Foods
Premier Foods plc has noted the weekend press speculation concerning a possible sale of its Batchelors' brand to Nissin Foods Holdings Co. Ltd and said that there is no current situation where 'discussions have not gone beyond an exploratory stage'.
According to a statement released today (15 January) it said that the Board has made no changes to its strategy, since the strategic update communicated in it preliminary results announcement on 16 May 2017.
The company, which also produces brands such as Bisto, Mr Kipling and Sharwoods, said it remains focused on its strategic objectives, such as reducing the ratio of net debt to EBITDA below three times.
On 29 June 2017 the company confirmed that 'in line with good corporate governance, it regularly reviews options to deliver value for all its stakeholders'.
Such reviews do periodically involve discussions with third parties, including Nissin which brands includes Super Noodles and Cup a Soup.
A spokesperson for the company said, "As a matter of normal good governance, the Board continues to keep under review any options which could potentially add value for shareholders and other stakeholders, and accelerate the delivery of the Board's strategic objectives, particularly with respect to reducing gearing."
© 2018 - Checkout Magazine by Donna Ahern