Premier Foods seeks investors for bread business

Hovis and Mother’s Pride owner Premier Foods today confirmed it has appointed a corporate advisor to help find investors for its struggling bread division.

The group, which also owns Bisto gravy and Mr Kipling cakes, last month blamed the summer heatwave for a 1.5 per cent fall in bread sales during the three months to 30 September.

In a brief statement to the stock market this morning, Premier said it has appointed Ondra Partners to “assist in developing investment options for the bread business, which include co-investment by a partner”.

It added: “There can be no certainty that a transaction will follow at any point in the future, but the company will provide updates as appropriate.”