Kingsmill Owner AB Foods to Buy Hovis in UK Bread Combination

Associated British Foods Plc, owner of UK bread brand Kingsmill, agreed to buy rival baker Hovis from its private equity backer.

AB Foods said the deal with PE firm Endless LLP will let Kingsmill parent Allied Bakeries and Hovis combine production and distribution activities and expand into new product ranges. The combination is subject to regulatory approval, and no value was given.