Glenboden M & A Originations

Premier could sell Hovis to fund UB acquisition

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Apparently the private equity owners of United Biscuits are looking to sell it. In that case Premier Foods has the opportunity to do a portfolio re-shuffle a la Danone or Kraft; sell its low -margin 'Hovis' bread business, and buy the higher -margin UB. Premier wants UB, but couldn't fund the acquisition without selling Hovis.

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