Does anyone know this company? It was highlighted in this weekend's paper and I wonder if it is about to fall a lot more ( eg with the prospect of a Rights Issue, etc), and that might be a good time to get in - when they have some cash.

Are they beholden to Supermarkets, I wonder - could this mean they have little "pricing-power"? - That's something that any go-go business needs, perhaps along with a USP - although this is hardly likley in the "food" industry, is it?

Board Appointment


Premier Foods plc is pleased to announce the appointment of Jennifer Laing as a Non Executive Director with effect from 1 October 2012.

Jennifer has over 30 years experience in brand building and communications including 16 years with Saatchi & Saatchi, twice as Chairman of the London office, and culminating in her role as Chairman and CEO of Saatchi & Saatchi North America. In the early 1990s she led her own advertising agency, Laing Henry, which was subsequently sold to Saatchi & Saatchi. From 2001 to 2007 Jennifer was Associate Dean, External Relations at London Business School.

Jennifer is currently a Non-Executive Director of (IHG) InterContinental Hotels Group plc where she chairs the Corporate Responsibility Committee, and of Hudson Global, Inc., a global recruitment company, where she is Chairman of the Compensation Committee.

Commenting on Jennifer's appointment, David Beever, Chairman of Premier Foods, said:

"I am delighted to welcome Jennifer to the Board. Jennifer brings with her a wealth of brand marketing and advertising experience which will be invaluable as we continue to invest in our future growth. The Board and I very much look forward to working with her."

Bye bye Hartleys :-(

PROPOSED SALE OF SWEET SPREADS AND JELLIES BUSINESS TO HAIN CELESTIAL FOR £200 MILLION

Premier Foods announces that it has reached a conditional agreement to sell its sweet spreads and jellies business, including the Hartley's, Robertson's, Frank Cooper, Keiller, Gales and Sun-Pat brands, to The Hain Celestial Group, Inc. [NASDAQ:HAIN], for a cash and share consideration of £200 million. The sale is subject to approval by Premier Foods' shareholders and consent from Premier Foods' banking syndicate and is expected to complete by the end of October 2012.

Just out of auction +7%

InterimMangement Statement

Highlights

· Underlying sales excluding Milling1,3 up 2.0% in Q3
· Power Brand sales up 2.0% YTD
· Grocery Power Brands sales up 4.1% YTD
· Additional Overhead Cost Reductions of £20m to be achieved in 2013
· Full Year expectations remain unchanged

Up 9.3% just shy of the 200ma and probably helped by this interview in the ST - Here’s my recipe to put life into Mr Kipling’s zombie

Michael Clarke has had a stellar career at Kraft, Coca-Cola and Reebok. Why trade it in for the debt-crippled Premier Foods?

29 October 2012

Premier Foods plc

("Premier Foods")

Premier Foods Completes Disposal of Sweet Spreads and

Jellies Business to Hain Celestial

Premier Foods is pleased to announce that:

-- all of the pre-completion conditions in respect of the proposed disposal of its Sweet Spreads and Jellies Business, as set out in the circular to shareholders dated 28 September 2012, have been satisfied; and

-- it completed the disposal of Histon Sweet Spreads Limited, the owner of the Sweet Spreads and Jellies Business, to The Hain Celestial Group, Inc. ("Hain Celestial") on 27 October 2012.

Premier Foods has received a cash payment of GBP170 million and will receive shares in Hain Celestial worth at least GBP30 million (as at completion) to make an aggregate consideration of GBP200 million, on a cash and debt free basis. The consideration is subject to a customary adjustment for a normalised level of stock at completion.

Ends

In auction +11.5%

wow now back to 10p ....old money.

Bye bye Branston - Disposal

PREMIER FOODS ANNOUNCES CONDITIONAL SALE OF SWEET PICKLES AND TABLE SAUCES BUSINESS TO THE MIZKAN GROUP ("MIZKAN") FOR £92.5 MILLION

Shares in Premier Foods bounded up by 43p (67%) to 107p during October, after an important disposal and restructuring.

The firm reached an agreement to sell off its sweet spreads and jam division, and focus on what it calls is "Power Brands" -- and at the third-quarter stage, sales of those brands had risen for the third successive quarter.

This is a great recovery after the share price collapsed in response to a profit warning last October, when the firm was forced into discussions about its banking covenants.

There's some risk, but there could be further rich pickings here for bold recovery investors.

Further Step to Build Value in Bread

Premier Foods today announces a further step to build value in its Bread business and drive sustainable profitable growth through simplifying its manufacturing and distribution operations to improve efficiency, quality and service levels, so enhancing the performance of the Hovis brand.

Proposals have been developed to close two bakery sites in Greenford and Birmingham during the course of 2013, in addition to the previously announced closure of the Eastleigh bakery, and to consolidate production from these locations into the Company's remaining bread manufacturing sites. In addition, it is proposed to simplify the bread distribution network by removing approximately 130 distribution routes, taking into account the reduction in volumes from the previously announced loss of a low margin bread contract by mid 20131. As a consequence, the Company is proposing to close distribution operations in Greenford, Birmingham, Mendlesham and Plymouth. It is also proposed to restructure the Company's outsourced logistics operations to optimise the new network. Together, these proposals are expected to result in approximately 900 fewer jobs across the Company's Bread Division.

Added some more on the dip here.

20 Nov Premier Foods PLC PFD Investec Buy 95.25 92.25 125.00 125.00 Reiterates

SP target 125p.

Brief......

http://au.news.yahoo.com/thewest/business/a/-/world/15428810/premier-foods-to-cut-900-jobs-in-breads-division/

Update from reuters.....

UPDATE 2-Premier Foods cuts 900 jobs at breads division20 Nov 2012 - 13:15

* 900 jobs to go in breads division * To close two bakery sites in 2013 * To remove 130 distribution routes and close some operations * Part of ongoing overhaul of wider group * Shares up 3.3 percent (Adds background, CEO, analyst comments, shares) By Neil Maidment LONDON, Nov 20 (Reuters) - Premier Foods is to axe around 900 jobs at its bread division as part of an ongoing move to cut debt that will see Britain's biggest food producer close two bakeries and four distribution centres. The shake-up, designed to help the performance of Hovis - a key brand, will result in an initial charge of 28 million pounds ($45 million) that should be recovered through site disposals and more efficient operations, Premier Foods said. The changes to bread, which accounts for nearly 40 percent of group revenue, follow a groupwide overhaul and the sale of non-core businesses to help cut debt that stood at 1.27 billion pounds at end-June. "Having generated solid growth momentum in our grocery division, it is critical that we act to assure the long-term future of the bread division," chief executive Michael Clarke said on Tuesday. Premier Foods shares were up 3.3 percent to 95.7 pence at 1255 GMT, having risen 77 percent over the past 12 months. "Today's move looks logical and much better than the alternative of cutting prices in an attempt to regain lost volume, which would have risked the further erosion of margins," analysts at Panmure Gordon said. Bakery sites in Birmingham and Greenford will close in 2013, with distribution sites in Birmingham, Greenford, Mendlesham and Plymouth shut as it adjusts to lower volumes caused by the loss of a 75 million pound contract, reported to be with the Co-Op. Clarke told Reuters the remaining part of the bread business was more profitable and could grow in a more simple structure. Premier Foods, which owns brands such as Mr. Kipling cakes and Sharwood's curry products, has sold businesses such as Hartley's jams, Sun-Pat peanut butter and its pickles and sauces arm, including Branston, this year. Sales from its ongoing businesses, excluding milling, rose 2 percent in the three months to September. [ID:nL5E8LN1X6] "We have pleasantly surprised people every quarter on grocery as we have been on this journey of improving that business. The plan is to do the same thing on bread," Clarke said. The bread unit, which the group separated into a new division in August, has proved tricky for Premier Foods, which has had to manage high wheat prices. ($1 = 0.6284 pound) (Additional reporting by Kate Holton; Editing by Dan Lalor and Sarah Young) ((kate.holton@thomsonreuters.com)(+44 207 542 8560)) Keywords: PREMIERFOODS JOBS/

Bullish article below.

Well worth a read.


Premier Foods cuts: unions’ fury, City analysts applaud

News that debt-laden giant Premier Foods plans to axe 900 jobs, close two bakeries and restructure its distribution system was greeted with fury by unions and applause by City analysts.

http://www.foodmanufacture.co.uk/Business-News/Premier-Foods-cuts-unions-fury-City-analysts-applaud

PFD PREMIER FOODS

Premier Foods Broker Views
Date Broker Recommendation Price Old target price New target price Notes

23 Nov Investec Buy 96.88 125.00 125.00 Reiterates


SP target 125p.

Circ re. Sweet Pickles and Table Sauces disposal

Further to the announcement made on 30 October 2012, Premier Foods announces that, following approval by the Financial Services Authority on Friday 30 November 2012, a circular (the "Circular") relating to the proposed disposal of its sweet pickles and table sauces business located in Bury St. Edmunds, Suffolk to the Mizkan Group for an aggregate cash consideration of £92.5 million (the "Proposed Disposal") has been posted to shareholders.

The Circular contains a notice of a general meeting (the "Meeting") of Premier Foods to consider and, if thought fit, to approve a resolution authorising Premier Foods to complete the Proposed Disposal. Subject to shareholders approving the Proposed Disposal, the disposal is expected to complete on 2 February 2013.

The Meeting will be held at 9:00 am on Tuesday 18 December 2012 at Premier Foods' offices, Premier House, Centrium Business Park, Griffiths Way, St Albans, Hertfordshire, AL1 2RE.

PFD breakout.