Premier Foods
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| Premier Foods plc | |
|---|---|
| Type | Public (LSE: PFD) |
| Founded | Flotation on LSE 2004. Origins 1930's. |
| Headquarters |  St. Alban's, England, UK |
| Key people | Robert Schofield, CEO, Director David Kappler, Chairman |
| Industry | Food Manufacturing |
| Products | See brands listing |
| Employees | c20,000 |
| Website | www.premierfoods.co.uk |
Premier Foods plc is a British-based food manufacturer headquartered in St Albans. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Premier Foods' origins were in the canned food industry. The company began to take its current shape through a series of acquisitions of established businesses, starting in 1986 with the acquisition of some tea and non-confectionery foods businesses from Cadbury Schweppes which were grouped together under the name of Hillsdown Holdings. It was floated on the stock exchange in 2004. Premier's product range includes a wide range of the UK's most successful food brands, with category leading positions in areas such as jams, marmalades, gravy, stock, suet, custard and more.
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[edit] Brands
Premier Foods' largest brands include:
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[edit] History
Premier Foods was formerly a subsidiary of Hillsdown Holdings plc which was bought in 1999 by the private equity company Hicks, Muse Tate and Furst which after buying a number of brands from Nestle in 2002 sold off the bulk of the Premier Brands division in 2004. The former Premier Biscuits or Horizon Biscuit Company merged with Burtons Biscuits also owned by Hicks Muse Tate & Furst to become Burton's Foods.
Turnover for the year to 31 December 2004 was £896.8 million. Profits were £8.7 million before tax and £6.2 million after tax.
In February 2005 Premier Foods acquired from Kraft Foods their ambient desserts businesses including Bird's custard and Angel Delight.
In June 2005 Quorn was purchased and this was followed in October by the acquisition of Cauldron, consolidating the two leading brands in the meat-free category.
In October 2005 Premier Foods announced that it was selling Typhoo Tea to India's Apeejay Surrendra Group for $140 million.
In October 2005, Premier Foods Plc launched Branston Baked Beans. The marketing and promotion of this product was aimed squarely at challenging Heinz's dominance of the UK baked bean market. This marketing included an advert, featuring a Branston Bean Tin explaining how Branston Beans are very "saucy." Promotional activities included a 'Great British Bean Poll' where members of the public across the country were invited to blind taste both 'the brand leader' (assumed to be Heinz) and Branston. 76% of participants picked Branston over the brand leader. Heinz was subsequently obliged to re-evaluate its advertising strategy in the face of this aggressive activity, although in public Heinz spokespeople dismissed the challenge as a 'non-starter'.
In 2006 Premier Foods acquired Campbells' UK and Ireland businesses for £460 million. Brands included in the deal were Oxo, Batchelors, Homepride and Fray Bentos. Subsequently the proposed closure, in December 2007, of the King's Lynn depot where Fray Bentos pies are made, was announced.[1]
In March 2007 Premier Foods completed the takeover of its rival RHM for £1.2 billion, making it the largest food company in the UK.
In July 2007 Premier foods announced it is to close the following RHM sites:
- Droylsden: Makers of Robertson's Golden Shred since 1890 and Sharwood's brands.
- Middlewich: Makers of Bisto and Salts.
- Wythenshawe: Sharwood's Pappadoms and Paxo.
- Ledbury: Makers of specialist jams.
- Reading: Foodservices.
All of the above manufacturing capacity is to be relocated to Premier's other sites, with the loss of approximately 2,000 jobs.
For £ 450m ($ 830m), Premier Foods, St. Albans, Hertfordshire bought Campbell Soup Company in the UK and Ireland, but not the brand. 22 flavours will be branded as Batchelors but recipes will remain the same. Also, US-based Campbell Soup Company will still produce Campbell's Condensed Soup but cannot sell the product in the UK for another 5 years. The cans will be rebranded as Batchelors Condensed Soup from March (since the license for the brand name expires in mid 2008) but labels will carry: "Formerly Campbell's. Same great taste." [2]
Key Competitors are: Unilever, Associated British Foods, Northern Foods, Greencore, Interlink and Warburton's.
[edit] See also
[edit] References
- ^ Premier Foods to close two factories with loss of 450 jobs. The Independent (2007). Retrieved on January 20, 2007.
- ^ BBC NEWS, UK shops to lose famous soup can
