The maker of Mr Kipling cakes, Hovis bread and Sharwoods sauces seems to be labouring under a mountain of debt (£1.8bn of debt at the end of June)... Are they about to sell the family silver to stave off the creditors?
"Premier is reviewing a range of options to accelerate the reduction of Group debt in order to establish a more appropriate long-term capital structure".
http://business.timesonline.co.uk/tol/business/industry_sectors/consumer_goods/article5349086.ece
- The Financial Times indicated Premier Foods was seeking to raise between 200 million and 300 million pounds from existing institutional investors, as well as external investors, including private equity groups such as Lion Capital.
- The Sunday Telegraph said the group was seeking to raise 700 million pounds and was also talking to private equity firms including Bain Capital, Blackstone and Permira.
