Premier Foods PLC on Tuesday said it has acquired the remaining shares of Knighton Foods Ltd it did not already own for a nominal amount.
Premier, the owner of Bisto gravy and Mr Kipling cakes, said in March it would seek to acquire the 51% of Knighton it does not already own after concluding a joint venture structure was not the best way to handle its investment in the company.
As a result, Knighton is now a 100%-owned subsidiary of Premier Foods.
Knighton makes instant dry power food products for retailers, food service customers and brands.
Premier Foods shares closed up 0.3% at 40.125 pence.
By Sam Unsted
Source: Alliance News via London South East
Local industry stakeholders under Food Drink Ireland (FDI) have called for targeted support measures in the sector that will help businesses stay buoyant during the transitional period.
Diageo has announced that the company’s CFO Kathryn Mikells will leave the business later this year and will be replaced by Lavanya Chandrashekar.
Schlosberg – who has resigned his positions as president, CFO, COO and secretary of Monster Beverage – will serve as co-CEO alongside Rodney C. Sacks.