Completion of disposal
Premier Foods plc
("Premier Foods" or the "Company")
COMPLETION OF THE DISPOSAL OF THE MEAT-FREE BUSINESS
Further to Premier Foods' announcements in respect of the proposed disposal of the Meat-free Business, the Company now confirms that all of the pre-completion conditions, as set out in a circular to shareholders dated 15 February 2011, have been satisfied.
Consequently, Premier Foods is pleased to announce that it has today completed the disposal of Marlow Foods Limited, the owner of the Meat-free Business which manufactures and sells products under the Quorn and Cauldron brands, to Exponent Private Equity LLP for a total cash consideration of £205 million on a debt free and cash free basis.
Enquiries
For further information, please contact:
Premier Foods plc
01727 815 850
Jim Smart (Chief Financial Officer)
Gwyn Tyley (Director of Investor Relations and M&A)
Maitland
020 7379 5151
Neil Bennett
Brian Hudspith
Rothschild
020 7280 5000
Akeel Sachak
Robert Plowman
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