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
Heineken has entered into an agreement with Sanyo Whisbih Group to take over majority ownership of the Long Chuan Zuan Co brewery in Taiwan. With this investment in local production, Heineken says it will become the first international brewer to have a brewery in the country.
Mondelēz International plans to reopen a potato chip plant, located on the outskirts of Kyiv, that was damaged in the ongoing Russia-Ukraine conflict, according to Reuters. The facility, which was closed in March after suffering serious damage, will resume production while still undergoing repairs, a company spokesperson told Reuters.
Diageo has announced it will wind down its Russian business operations over the next six months, with plans to fully withdraw by the end of the year, according to Reuters. In March, the drinks giant suspended all exports of its products to Russia as well as the manufacturing of its beers, which are brewed locally under license by third parties.
