UK canned foods maker Premier Foods should hold an open auction to sell off its flagship Batchelors Soup brand in a bid to improve the company’s financial outlook, activist investor Oasis Management said on Thursday.
The call from one of the company’s biggest shareholders comes ahead of an annual meeting later this month at which it has called for the removal of Premier Foods’ chief executive Gavin Darby. Oasis has previously said the company’s brands were strong and had been mismanaged by the current leadership.
“Using conservative assumptions, Oasis believes that the sale of Batchelors … would generate more than 200 million pounds ($264.72 million) of proceeds, or more than 60 percent of the current market capitalisation of the company,” Oasis said in an email on Thursday.
($1 = 0.7555 pounds)
By Noor Zainab Hussain
Source: Reuters
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
