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Premier Foods in "advanced talks" regarding sale of the business

The meat-free part of Premier Foods may be on the verge of being sold.

03 December 2010

Two potential buyers, including Quorn, are in "advanced talks" with Premier Foods - Britain's largest groceries producer - regarding the sale of the meat-free side of its business.

A press release from the company stated: "Premier Foods confirms that it has received bids from a number of parties, including multinational food groups and private equity firms."

It added that discussions with two interested parties were at a later position, but there is currently no guarantee that the acquisition will take place.

According to news sources, it is believed the sale of the meat-free part of Premier Foods could be worth £230 million.

Last week, UK firm Del Monte, which is well-known for its canned-fruit products, was sold to a private equity group led by Kohlberg Kravis Roberts (KKR) and Co for $5.3 billion (£3.4 billion) following sales negotiations.

Simon Brown, head of the KKR's North American consumer practice, said the firm looked forward to working alongside Del Monte's employees and making investments into the enterprise.

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