Premier Foods plc PFD Completion of Disposal

  Premier Foods plc (PFD) - Completion of Disposal

RNS Number : 7361P
Premier Foods plc
29 October 2012


















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 £170  million and will  receive 
shares in Hain Celestial worth at least £30 million (as at completion) to make
an aggregate consideration of  £200 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 ~



For further information, please contact:

Premier Foods plc

Lisa Attenborough, Director of Communications
+44 (0) 1727 815 850

Richard Godden, Head of Investor Relations
+44 (0) 1727 815 850



Maitland
+44 (0) 20 7379 5151

Tom Buchanan

Brian Hudspith



Notes to editors:

As Britain's largest food producer, Premier  Foods is committed to being  'The 
Best in  British Food'  - delivering  the taste  the British  love, with  food 
that's made in Britain by people who understand British consumers. We  supply 
a range of  retail, wholesale, foodservice  and other customers  with some  of 
Britain's best  loved brands,  including Ambrosia,  Batchelors, Bisto,  Hovis, 
Loyd Grossman, Mr.  Kipling, Oxo  and Sharwood's. The  company employs  around 
10,000 people operating from over 40 sites from Plymouth to Glasgow.



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


DISEANENASDAFEF -0- Oct/29/2012 09:55 GMT
 
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