Premier Foods considers sale of canning business

The makers of Branston Pickle and Mr Kipling cakes, Premier Foods, is said to be considering putting its canning business on the market in a bid to pay off some of its debts.

Premier is involved in discussons with seafood group Princes over the sale of the canning sites, which are located at Wisbech, Cambridgeshire and Long Sutton, Lincolnshire.

Representatives from the owner of Princes, The Mitsubishi Corporation, are said to be paying a visit to the sites today, Monday 15 November.

More than 460 people are employed at the Wisbeach factory, which makes Loyd Grossman sauces, canned soups and canned beans, whilst 600 workers are employed at the Long Sutton site, which makes Fray Bentos pies and canned vegetable and meat.

Premier has said that it is 'open minded about disposals of assets if by doing so we can achieve our financial objective more quickly.'

Whilst the group is yet to comment on the rumoured interest of Princes, it released a statement last month saying it had 'received approaches that may or may not lead to a sale of its meat-free business, including Quorn.'

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