Hovis: Premier Foods Announces JV Completion

London / UK. (pf) Further to its announcement in January, Premier Foods PLC is pleased to confirm that it has completed the joint venture transaction with The Gores Group in relation to Premier Foods´ bread business (that excludes the Charnwood Foods facility in Leicester and a flour mill in Andover). The joint venture will trade under the name of Hovis Limited. Hovis is now a vertically integrated baking and flour milling business jointly owned by The Gores Group (51 percent) and Premier Foods (49 percent). The Company is head-quartered in High Wycombe and operates as a stand-alone business led by Bob Spooner, Chief Executive Officer, in conjunction with a Board of Directors consisting of an independent Chairman, two Directors each from The Gores Group and Premier Foods, and Bob as CEO. Hovis Limited employs approximately 3’800 people at ten bakeries, six flour mills and two regional distribution centres across the UK. Hovis is one of the largest bakery brands in the UK and amongst the best known food brands in the country. Hovis Limited also makes Mothers Pride, Ormo and retailer branded bakery products and supplies flour to a range of customers under its Rank Hovis, Fleming Howden and Holgran trading platforms.

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