Completion of Disposal

RNS Number : 9616K

Premier Foods plc

25 July 2011

 



Premier Foods plc

("Premier Foods" or the "Group")

COMPLETION OF THE DISPOSAL OF CANNED GROCERY OPERATIONS

Further to Premier Foods' announcements in respect of the proposed disposal of its East Anglian canned grocery operations (the "Business"), the Group now confirms that all of the pre-completion conditions as set out in the circular to shareholders dated 7 March 2011 have been satisfied or waived. 

Consequently, Premier Foods is pleased to announce that it has completed the disposal of the Business to Princes Limited for a cash consideration of £182m, on a debt free and cash free basis, subject to a stock adjustment.

Enquiries

For further information, please contact:

Maitland

020 7379 5151

Neil Bennett

Brian Hudspith

Notes to editors

1             This document contains forward-looking statements which are based on Premier Foods' current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of variables which could cause actual results or trends to differ materially, including, but not limited to, factors that are beyond the Company's ability to control or estimate precisely, such as delays in obtaining, or adverse conditions contained in, regulatory approvals, competition and industry restructuring, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in historical weather patterns, changes in competitive circumstances, changes in customer or supplier behaviour, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, the availability of new acquisition opportunities or the key timing and success of future acquisition opportunities. Each forward-looking statement speaks only as of the date of the particular statement. Except to the extent required by applicable law, the Listing Rules and the Disclosure Rules, the Company will not necessarily update any forward-looking statement in the light of new information or future events and undertakes no duty to do so.

 

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