Mon, 12 Dec 2011 | DIVISION SALE
Following the successful sale of its chilled foods and bakery business Brookes Avana, it has been predicted by experts that Premier Foods’ spreads business will be the “next logical disposal”.
The sale of the spreads business, including the brands Hartley’s Jam and Haywards’ pickles, has been in the pipeline for some time already.
We reported in October that due to its spiralling debts, which stood at £950 million at the time, Premier Foods had plans to sell off some brands to generate some much needed cash. Adviser Spayne Lindsay was hired to manage the sale process for the spreads business, thought to be worth £80 million.
With plans to raise at least £200 million from brand sales, the £30 million generated from the recent sale of Brookes Avana to 2 Sister’s Food Group goes some way to meeting this target.
Premier Foods’ chief executive officer Michael Clarke commented on the deal to Insider Media: “The sale of Brookes Avana underlines our commitment to focus the business on growing a smaller number of brands.”
Premier Foods spreads should prove to be attractive to buyers, with its well-known brand name, its own factory and strong presence in the market.
The Hotels for sale on the NC500 route offer 45 letting bedrooms between the two which are run as one business for sale. This two locations for sale offer outstanding architecture and a strong turnover.
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A traditional Highlands Inn, on a site which has offered hospitality to travellers for at least 600 years, the present buildings date from the mid 18th century.
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Project Bailie is a two superbe hotels run as one business in the heart of Glasgow, the business offers continuous trade and exceptional reviews.
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