PE firms circle Premier Foods' spread businesses

The sale could fetch up to £180m. TDR and CapVest are familiar with consumer-facing food brands; the former previously owned restaurant chain Pizza Express, while Capvest is a former owner of frozen food brand Young's.

Meanwhile other Premier Foods assets, including Angel Delight and Sarson's Vinegar, are believed to have caught the eye of private equity firms PAI partners and Permira.

Premier Foods is understood to be divesting some of its brands in an effort to reduce its sizeable debt burden. Private Equity firm Warburg Pincus made a PIPE investment in the listed business in March 2009, when it contributed £64m in return for a 10.3% stake in the business. Warburg increased its shareholding a few months later.

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• Topics
• Buyouts
• Consumer
• United Kingdom
• TDR Capital
• CapVest Equity Partners
• Morgan Stanley