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Premier Foods considering £200m bid for Crosta Mollica - report
(Sharecast News) - Mr Kipling and Bisto owner Premier Foods is reportedly considering a £200m swoop on Crosta Mollica. According to Sky News, Premier Foods - which has a market capitalisation of about £1.6bn - is among the parties exploring offers for the privately-owned food business which sells Italian style pizzas, breadsticks, and desserts, among other things.
If it proceeds with a bid, Sky said, it would further underline Premier Foods' revival under chief executive Alex Whitehouse, following a debt-laden decade in which it struggled to stay afloat.
The company exited the frozen pizza category in 2024 when it decided to discontinue its operations producing pizza bases for own-label products, in order to strengthen its focus on branded products.
Last year, Premier Foods agreed to buy Merchant Gourmet for £48m. It has also acquired brands including The Spice Tailor.
In its half-year results last November, the company, which also owns Batchelors, Homepride and Paxo, said it continues to pursue branded assets which would benefit from the application of its "proven branded growth model".
Crosta Mollica is owned by private investment firm Perwyn, which recently hired bankers from Harris Williams to field interest from potential buyers. Sources told Sky that a deal with Premier Foods was far from certain to proceed, but confirmed it was among the parties engaged with Crosta Mollica's advisers.
Premier Foods declined to comment on the article.
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