Premier Foods plc is a British food manufacturer headquartered in
St Albans
St Albans () is a cathedral city in Hertfordshire, England, east of Hemel Hempstead and west of Hatfield, north-west of London, south-west of Welwyn Garden City and south-east of Luton. St Albans was the first major town on the old Roman ...
,
Hertfordshire
Hertfordshire ( or ; often abbreviated Herts) is one of the home counties in southern England. It borders Bedfordshire and Cambridgeshire to the north, Essex to the east, Greater London to the south, and Buckinghamshire to the west. For gov ...
. The group owns many well-known brands, including
Mr Kipling,
Ambrosia
In the ancient Greek myths, ''ambrosia'' (, grc, ἀμβροσία 'immortality'), the food or drink of the Greek gods, is often depicted as conferring longevity or immortality upon whoever consumed it. It was brought to the gods in Olympus ...
,
Bird's Custard,
Angel Delight
Angel Delight is a powdered dessert product produced in the United Kingdom. It is designed to be mixed and whisked with milk to create a mousse-like sweet dessert.
Angel Delight was released in 1967 by the Bird's company, in a strawberries-an ...
,
Homepride cooking sauces,
Lyons
Lyon,, ; Occitan: ''Lion'', hist. ''Lionés'' also spelled in English as Lyons, is the third-largest city and second-largest metropolitan area of France. It is located at the confluence of the rivers Rhône and Saône, to the northwest of t ...
,
Sharwood's
Sharwood's is a British food company, which specialises in Asian food, established in 1889 and acquired by RHM in 1963, which was then merged into Premier Foods in March 2007.
Company products
The company produces Indian, Chinese and South Ea ...
,
Loyd Grossman sauces,
Oxo,
Bisto
Bisto is a popular and well-known brand of gravy and other food products in the United Kingdom and Ireland, currently owned by Premier Foods.
History
The first Bisto product, in 1908, was a meat-flavoured gravy powder which rapidly became a best ...
,
Batchelors
Batchelors is a popular brand of predominantly dried food products. The Bachelors company was founded in 1895 in Sheffield, England by William Batchelor, initially specialising in canned vegetables. It released its first dried soup in 1949, an ...
and Plantastic. Premier Foods also produce cakes under the
Cadbury
Cadbury, formerly Cadbury's and Cadbury Schweppes, is a British multinational confectionery company fully owned by Mondelez International (originally Kraft Foods) since 2010. It is the second largest confectionery brand in the world after Mar ...
's name, using the brand under licence. It is listed on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
and is a constituent of the
FTSE 250 Index
The FTSE 250 Index ( "Footsie") is a capitalisation-weighted index consisting of the 101st to the 350th largest companies listed on the London Stock Exchange. Promotions and demotions to and from the index occur quarterly in March, June, Septem ...
.
History
Formation
The company was founded by
Harry Solomon
Harry S. Solomon is a character in ''3rd Rock from the Sun'', played by French Stewart. He is the brother of Dick Solomon and Sally Solomon, and the uncle of Tommy Solomon. His middle initial is mentioned in the episode "Dick the Vote." French S ...
and
David Thompson in
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
in 1975 as Hillsdown Holdings.
The name came from Thompson's house, Hillsdown.
His son Richard Thompson worked for his father after his education at
Haileybury. In 1981 it acquired ''Lockwood Foods Ltd'' which was in administrative receivership.
In May 1987, David Thompson stepped down from Hillsdown Holdings, selling 50% of his shares and became a non executive director. In April 1989 he sold all of his shares.
In 1986, it bought various food businesses from
Beechams and in 1990 it acquired Premier Brands, the MBO led by
Paul Judge
Sir Paul Rupert Judge (25 April 1949 – 21 May 2017) was an English business and political figure. He served as Chairman of the Royal Society of Arts, President of the Chartered Management Institute, and Deputy Chairman of the American Managemen ...
of
Cadbury Schweppes' Foods and Other Products divisions which included
Typhoo and
Cadbury's drinks.
It was bought by the private equity company
Hicks, Muse, Tate and Furst in 1999. In 2002, it bought
Nestlé
Nestlé S.A. (; ; ) is a Switzerland, Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It is the largest publicly held food company in the world, measured by revenue and other me ...
's ambient foods business. It was first listed on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
in 2004.
Expansion
In 2004, it acquired the
Ambrosia
In the ancient Greek myths, ''ambrosia'' (, grc, ἀμβροσία 'immortality'), the food or drink of the Greek gods, is often depicted as conferring longevity or immortality upon whoever consumed it. It was brought to the gods in Olympus ...
custard and rice pudding brand from the
Colman's division of
Unilever
Unilever plc is a British multinational consumer goods company with headquarters in London, England. Unilever products include food, condiments, bottled water, baby food, soft drink, ice cream, instant coffee, cleaning agents, energy dri ...
.
In February 2005, Premier Foods acquired
Kraft Foods
The second incarnation of Kraft Foods is an American food manufacturing and processing conglomerate, split from Kraft Foods Inc. in 2012 and headquartered in Chicago, Illinois. It became part of Kraft Heinz in 2015.
A merger with Heinz, arran ...
' ambient desserts businesses including
Bird's Custard and
Angel Delight
Angel Delight is a powdered dessert product produced in the United Kingdom. It is designed to be mixed and whisked with milk to create a mousse-like sweet dessert.
Angel Delight was released in 1967 by the Bird's company, in a strawberries-an ...
.
In June 2005, Marlow Foods, makers of
Quorn, was purchased and this was followed in October by the acquisition of Cauldron, consolidating the two leading brands in the meat-free category. That month, Premier Foods announced the sale of
Typhoo tea to India's
Apeejay Surrendra Group for $140 million. Immediately after the sale, The Sirhowy Group confirmed it had acquired a 2% stake in Premier Foods, supporting the company's strategy to make debt reduction a priority.
In 2006, Premier Foods acquired the UK and Ireland businesses of
Campbell's
Campbell Soup Company, doing business as Campbell's, is an American processed food and snack company. The company is most closely associated with its flagship canned soup products; however, through mergers and acquisitions, it has grown to become ...
for £460 million. Brands included in the deal were
Oxo,
Batchelors
Batchelors is a popular brand of predominantly dried food products. The Bachelors company was founded in 1895 in Sheffield, England by William Batchelor, initially specialising in canned vegetables. It released its first dried soup in 1949, an ...
, Homepride and
Fray Bentos
Fray Bentos () is the capital city of the Río Negro Department, in south-western Uruguay, at the Argentina-Uruguay border, near the Argentine city of Gualeguaychú. Its port on the Uruguay River is one of the nation's most important harbours ...
. The iconic Campbell's Soup cans had to be rebranded as Batchelors Condensed Soup (as the brand itself was not acquired) but labels still carried the label "''Formerly Campbell's. Same great taste''." Similarly, Campbell's Meatballs were rebranded as Fray Bentos Meatballs. Subsequently, in December 2007, the closure of the
King's Lynn
King's Lynn, known until 1537 as Bishop's Lynn and colloquially as Lynn, is a port and market town in the borough of King's Lynn and West Norfolk in the county of Norfolk, England. It is located north of London, north-east of Peterborough, nor ...
depot where Fray Bentos pies were made was announced.
In March 2007, Premier Foods completed the takeover of its rival
Rank Hovis McDougall (RHM) for £1.2 billion.
In July 2007, Premier Foods announced it would close several RHM sites: Bristol, Droylsden (makers of
Robertson's Golden Shred since 1890 and
Sharwood's
Sharwood's is a British food company, which specialises in Asian food, established in 1889 and acquired by RHM in 1963, which was then merged into Premier Foods in March 2007.
Company products
The company produces Indian, Chinese and South Ea ...
brands), Middlewich (makers of
Bisto
Bisto is a popular and well-known brand of gravy and other food products in the United Kingdom and Ireland, currently owned by Premier Foods.
History
The first Bisto product, in 1908, was a meat-flavoured gravy powder which rapidly became a best ...
and Salts), Wythenshawe (makers of
Sharwood's
Sharwood's is a British food company, which specialises in Asian food, established in 1889 and acquired by RHM in 1963, which was then merged into Premier Foods in March 2007.
Company products
The company produces Indian, Chinese and South Ea ...
pappadoms and
Paxo), Ledbury (makers of specialist jams) and Reading (Foodservices).
In 2008 the company re-launched the
Hovis brand by commissioning ''
Go On Lad
"Go On Lad" is a British television advertisement, television and cinema advertising, advertisement launched by Premier Foods in 2008 to promote its Hovis brand of bread. The 122-second piece was commissioned as part of a £15,000,000 brand relaunc ...
'', a retrospective advertisement which was voted "Advert of the Decade" by the British public in December 2009.
In 2009, Premier Foods sold its frozen bakery business, including Le Pain Croustillant and Sofrapain, to Nutrixo.
Restructuring
In February 2011, Premier Foods sold its
Crosse & Blackwell,
Fray Bentos
Fray Bentos () is the capital city of the Río Negro Department, in south-western Uruguay, at the Argentina-Uruguay border, near the Argentine city of Gualeguaychú. Its port on the Uruguay River is one of the nation's most important harbours ...
and Smedley's businesses to
Princes
A prince is a male ruler (ranked below a king, grand prince, and grand duke) or a male member of a monarch's or former monarch's family. ''Prince'' is also a title of nobility (often highest), often hereditary, in some European states. The ...
for £182 million. It followed this in March with the sale of Marlow Foods to Exponent Private Equity and
Intermediate Capital Group for £205 million ($331.6 million), resulting in the creation of a new company,
Quorn Foods. Premier Foods said the deal was part of a strategy to reduce its debt, which built up following an acquisition spree that included Hovis-owner RHM and Campbell's Soup in the UK and Ireland.
2 Sisters Food Group
2 Sisters Food Group, a subsidiary of Boparan Holdings Ltd, is a privately owned food manufacturing company with head offices in Birmingham, England primarily focusing on private label manufacturing for retailer and food service markets. Establ ...
bought Premier Foods' Brookes Avana business in December 2011.
In 2012, the company announced it had agreed a re-financing package, which required the disposal of additional assets. Premier Foods reached agreements with
Mizkan
is a Japanese company that produces vinegars (including seasoned rice vinegars, balsamic vinegars, and wine vinegars), mustards, salad dressings, authentic East Asian sauces, nattō, and other food products. It is based in Handa, Aichi P ...
to sell its Haywards pickle,
Sarson's and Dufrais vinegar in June, followed by
Branston in October that year. In August, the company sold its sweet spreads and jellies division, including
Hartley's jam,
Sun-Pat
Sun-Pat is a UK brand of peanut butter founded in 1946 by H S Whiteside, a family run firm, from their factory in Parkhouse Street, Camberwell, London. Sun-pat is now owned by American company Hain Celestial Group.
History
Sun-Pat opened a fa ...
peanut butter and
Robertson's, to
Hain Celestial Group.
In January 2014, Premier Foods announced a new capital structure for the business which included an underwritten equity issue of approximately £353 million, a new pension schemes agreement, a high yield bond of £500 million and a new lending agreement with a smaller banking group. Premier also became a 'grocery-only' business with the movement of the
Hovis brand into a
joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...
with US-based venture capital fund
The Gores Group. Premier Foods sold a controlling 51% stake in the joint venture to The Gores Group, which saw Hovis become a private company.
The Hovis spin-off was followed in June 2014 by the announcement that the company would spin-off its powdered food and drinks manufacturing operations in
Knighton into a joint venture called Knighton Foods. Premier Foods sold a controlling 51% stake in the venture to Specialty Powders Holdings.
In December 2014 it was reported that the company was charging suppliers for the right to sell goods and services to Premier Foods. One supplier said the practice – known as pay and stay – was like "blackmail". Premier Foods said it was confident the scheme did not break any rules under competition law.
In November 2015 the group announced a new partnership with celebrity baker
Paul Hollywood to produce a range of bread, savoury and sweet mixes, designed to make artisanal baking accessible to consumers.
The company announced a partnership with the
Japan
Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the n ...
ese company
Nissin Foods in March 2016, whereby the companies would distribute each other's products in their home markets. Premier Foods also revealed it had rejected an unsolicited takeover approach from
McCormick & Company. Nissin subsequently purchased a 17.3% stake in the company. McCormick dropped its takeover bid in April 2016.
Brands
*
Ambrosia
In the ancient Greek myths, ''ambrosia'' (, grc, ἀμβροσία 'immortality'), the food or drink of the Greek gods, is often depicted as conferring longevity or immortality upon whoever consumed it. It was brought to the gods in Olympus ...
custards and rice pudding
*
Angel Delight
Angel Delight is a powdered dessert product produced in the United Kingdom. It is designed to be mixed and whisked with milk to create a mousse-like sweet dessert.
Angel Delight was released in 1967 by the Bird's company, in a strawberries-an ...
desserts
*
Atora shredded suet
*
Batchelors
Batchelors is a popular brand of predominantly dried food products. The Bachelors company was founded in 1895 in Sheffield, England by William Batchelor, initially specialising in canned vegetables. It released its first dried soup in 1949, an ...
dehydrated foods,
Super Noodles
Super Noodles is the brand name of a dehydrated instant noodle snack, made by Batchelors in the United Kingdom (previously made by Kellogg's) and sold under the McDonnells brand in Ireland. They are prepared by being placed in a pot of boiling ...
and dried soup
Cup-a-Soup
*
Be-Ro
Be-Ro is a food manufacturing business, formerly based in Newcastle upon Tyne.
History
The Company was founded by Thomas Bell as a grocery and tea company in Longhorsley north of Newcastle in 1875. Bell had experimented with rising agents on fl ...
flour
*
Bird's custard and desserts
*
Bisto
Bisto is a popular and well-known brand of gravy and other food products in the United Kingdom and Ireland, currently owned by Premier Foods.
History
The first Bisto product, in 1908, was a meat-flavoured gravy powder which rapidly became a best ...
gravy
*
Cadbury
Cadbury, formerly Cadbury's and Cadbury Schweppes, is a British multinational confectionery company fully owned by Mondelez International (originally Kraft Foods) since 2010. It is the second largest confectionery brand in the world after Mar ...
cakes and cake mixes (manufactured under licence from
Mondelez International
Mondelez International, Inc. ( ), often styled Mondelēz, is an American multinational confectionery, food, holding and beverage and snack food company based in Chicago. Mondelez has an annual revenue of about $26 billion and operates in ...
)
*
Homepride cooking sauces and ready meals businesses only
*
Loyd Grossman sauces cooking sauces
*
Lyons
Lyon,, ; Occitan: ''Lion'', hist. ''Lionés'' also spelled in English as Lyons, is the third-largest city and second-largest metropolitan area of France. It is located at the confluence of the rivers Rhône and Saône, to the northwest of t ...
cakes and baked goods
*
Marvel milk powder
*
McDougalls
RHM plc, formerly Rank Hovis McDougall, was a United Kingdom food business. The company owned numerous brands, particularly for flour, where its core business started, and for consumer food products. It was listed on the London Stock Exchange ...
flour
*
Mr Kipling cakes and cake mixes
*
Nissin noodle pots and blocks (distributed under licence from Nissin Food Holdings Co Ltd)
*
Oxo stocks and seasonings
*
Paxo stuffing
* Peckish rice crackers (under licence)
* Plantastic health foods
*
Saxa Saxa may refer to:
*Saxa (food product), a brand of salt and pepper
*Saxa (musician) Saxa may refer to:
*Saxa (food product)
Saxa is a brand of herbs, spices, salt and pepper in the United Kingdom and Australia. Formerly a brand of Rank Hovis M ...
salt and pepper
*
Sharwood's
Sharwood's is a British food company, which specialises in Asian food, established in 1889 and acquired by RHM in 1963, which was then merged into Premier Foods in March 2007.
Company products
The company produces Indian, Chinese and South Ea ...
Asian cooking sauces
*
Smash instant mash potato
* The Spice Tailor by
Anjum Anand
* Vesta dried ready meals
References
External links
*
{{Authority control
Bakeries of the United Kingdom
British pie brands
British Royal Warrant holders
Companies based in the City and District of St Albans
Food and drink companies established in 1975
Companies listed on the London Stock Exchange
Food brands of the United Kingdom
Food manufacturers of the United Kingdom
Premier Foods brands
Private equity portfolio companies
Condiment companies
1999 mergers and acquisitions
2004 initial public offerings
1975 establishments in England