UK - Warburg may up Premier Foods stake to 18%

The move follows Warburg's initial investment in Premier in March, when it contributed £64m in return for a 10.3% stake in the business. The deal formed part of a £404m capital raising for the company, which formed part of plans to reduce its debt from £1.78bn to £1.4bn.

St Albans-based Premier Foods manufactures food products such as bread, cakes, convenience food, stocks and desserts, including the Mr Kipling and Hovis brands. For 2008, the company reported a turnover of £2.6bn and an operating loss of £40.5m.

Shares in the company rose to nearly 45 pence.

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• Expansion
• UK / Ireland