This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-18454773#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
The article has changed 4 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Premier Foods sells Sarsons and Haywards for £41m | Premier Foods sells Sarsons and Haywards for £41m |
| (40 minutes later) | |
| Premier Foods is selling its vinegar and sour pickles business as it continues its strategy of concentrating on "power brands". | Premier Foods is selling its vinegar and sour pickles business as it continues its strategy of concentrating on "power brands". |
| It will sell Sarsons and Dufrais vinegars and Haywards pickles for £41m to Japanese food producer Mizkan. | It will sell Sarsons and Dufrais vinegars and Haywards pickles for £41m to Japanese food producer Mizkan. |
| The products are predominately made in Middleton near Manchester and Premier said all staff will transfer to Mizkan. | The products are predominately made in Middleton near Manchester and Premier said all staff will transfer to Mizkan. |
| Premier is concentrating on eight brands it thinks have the best prospects, including Hovis and Oxo. | Premier is concentrating on eight brands it thinks have the best prospects, including Hovis and Oxo. |
| Others include Mr Kipling, Bachelors, Oxo and Sharwood's. | Others include Mr Kipling, Bachelors, Oxo and Sharwood's. |
| 'Beloved' brands | 'Beloved' brands |
| The sale to Mizkan includes Premier's factory at Bury St Edmunds in Suffolk, which produces pickled beetroot and piccalilli. | |
| Premier said in a statement this latest move represented a further step in its strategy to prioritise investment behind the eight brands. | Premier said in a statement this latest move represented a further step in its strategy to prioritise investment behind the eight brands. |
| Mizkan said it was delighted to have bought the brands, which it said were "beloved" by consumers and provided a solid foundation for further growth in the UK. | Mizkan said it was delighted to have bought the brands, which it said were "beloved" by consumers and provided a solid foundation for further growth in the UK. |
| Premier, which is the country's largest food manufacturer, ran into trouble last year partly because of a huge pension scheme deficit. | Premier, which is the country's largest food manufacturer, ran into trouble last year partly because of a huge pension scheme deficit. |
| In March this year it renegotiated its bank debt and was given more time to repay the £1bn of loans. | In March this year it renegotiated its bank debt and was given more time to repay the £1bn of loans. |
| The company, the UK's largest food manufacturer, ran up large debts after buying up brands including Homepride and Fray Bentos. | The company, the UK's largest food manufacturer, ran up large debts after buying up brands including Homepride and Fray Bentos. |
| At the beginning of this year it said it would cut 600 jobs, about 5% of its 12,000-strong workforce, to trim costs. | At the beginning of this year it said it would cut 600 jobs, about 5% of its 12,000-strong workforce, to trim costs. |
| Its banks have now extended its repayment deadline from 2013 to 2016. | Its banks have now extended its repayment deadline from 2013 to 2016. |