is a
British -based food manufacturer headquartered in
St Albans . It is listed on the
London Stock Exchange and is a constituent of the
FTSE 250 Index .
Premier Foods origins were in the canned food industry. The company began to take its current shape through a series of acquisitions of established businesses, starting in
1986 with the acquisition of some tea and non-confectionery foods businesses from
Cadbury Schweppes which were grouped together under the name of Hillsdown Holdings. It was floated on the stock exchange in 2004. Premier's product range includes a wide range of the UK's most successful food brands, with category leading positions in areas such as jams, marmalades, gravy, stock, suet, custard and more.
Premier foods largest brands include:
Premier Foods was formerly a subsidiary of
Hillsdown Holdings Plc which was bought in 1999 by the private equity company
Hicks, Muse Tate And Furst which after buying a number of brands from
Nestle in 2002 sold off the bulk of the Premier Brands division in 2004. The former Premier Biscuits or Horizon Biscuit Company merged with Burtons Biscuits also owned by Hicks Muse Tate & Furst to become
Burtons Foods .
Turnover for the year to
31 December 2004 was £896.8 million. Profits were £8.7 million before tax and £6.2 million after tax.
In February 2005 Premier Foods acquired from
Kraft Foods their ambient desserts businesses including Bird's custard and Angel Delight.
In June 2005
Quorn was purchased and this was followed in October by the acquisition of Cauldron, consolidating the two leading brands in the meat-free category.
In October 2005 Premier Foods announced that it was selling
Typhoo Tea to India's Apeejay Surrendra Group for $140 million.
In
October 2005 , Premier Foods Plc launched Branston Baked Beans. The marketing and promotion of this product was aimed squarely at challenging Heinz's dominance of the UK baked bean market. This marketing included an advert, featuring a Branston Bean Tin explaining how Branston Beans are very "saucy." Promotional activities included a 'Great British Bean Poll' where members of the public across the country were invited to blind taste both 'the brand leader' (assumed to be Heinz) and Branston. 76% of participants picked Branston over the brand leader. Heinz was subsequently obliged to re-evaluate its advertising strategy in the face of this aggressive activity, although in public Heinz spokespeople dismissed the challenge as a 'non-starter'.
In 2006 Premier Foods acquired Campbells' UK and Ireland businesses for £460 million. Brands included in the deal were
Oxo ,
Batchelors , Homepride and Fray Bentos. Subsequently the proposed closure, in December 2007, of the
King's Lynn depot where Fray Bentos pies are made, was announced.
1
In March 2007 Premier Foods completed the takeover of its rival RHM for £1.2 billion, making it the largest food company in the UK.
July 2007
Premier foods announced it is to close the following RHM sites:
Droylsden. Makers of Robertsons golden shred since 1890
and Sharwoods brands.
Middlewich. Makers of Bisto and Salts
Wythenshawe. Sharwoods Poppudums and paxo
Ledbury. Makers of Specialist jams
Reading. Foodservices.
All to be relocated to Premiers own sites, with the loss of approximately 2000 jobs.
