Nutrixo offers to purchase Premier firms

16 January, 2009
Page 4 
Premier Foods has confirmed it has received an offer for its Le Pain Croustillant and Sofrapain businesses from French company Nutrixo, parent of Moul-Bie and Délifrance UK. Nutrixo is partly owned by farming co-operatives and partly by its own employees.
The offer is "for a cash consideration of approximately £8m on a cash-free and debt-free basis", and has been accepted in prin-ciple. Premier has "started con- sultations with employees and their representatives," regarding the proposed deal.The success of Hovis' relaunch has driven sales and market share and Premier expects sales in 2008 to be approximately 13% up on 2007. It also expects a 9% rise in group sales for the year to 31 December 2008, compared to the same 2007 period.

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