Feb 27, 2019

Premier Foods unveils strategic review and put activists on board

Premier Foods has appointed two activist investors to its board and announced a review of "Strategic options for increasing shareholder value". New York-based Paulson and Hong Kong-based Oasis each hold stakes of roughly 12 per cent in Premier. In previous strategic reviews, the group has considered selling some of its key brands under pressure from investors, including its Bachelors soup and noodle business and Ambrosia puddings. Premier abandoned the sale this month after talks with potential buyers proved disappointing. "Martin Deboo, analyst at Jefferies, said in a note to clients:"Disposal of the entire business remains a compelling option, given the opportunity for a strategic buyer to unlock not just cost synergy, but also financing synergy, through absorbing Premier's liabilities within a larger balance sheet.

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