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
A new wave of brands is emerging that promotes indulgence and rejects the notion of sacrifice. Low-maintenance “hangover” beauty products are designed to address the effects of late nights and partying without judgment or hassle, and even include cosmetics that are formulated in a way that means you can fall asleep in your makeup without feeling guilty.
The pilot will allow the company to scale circular packaging in about 18 markets over the next three years, an approach that jumps on the success of similar efforts in the company’s Indonesia ecoSPIRITS program, which launched in 2022 and is active in 38 bars.
Unilever’s focus on purpose across its brands has been a source of criticism from some of its investors. Its new CEO Hein Schumacher says the company now recognises there are some brands where the concept is simply not relevant.
