Princes completes on Premier deal - but Fray Bentos still for sale
Published:  27 July, 2011

Food and drink group, Princes Ltd, has completed its acquisition of the canned goods business of Premier Foods’ - but will run meat brand Fray Bentos independently until a buyer is found.

The deal, which was originally announced in February, was worth £182m. It will considerably expand Princes’s ambient branded and customer own-label products.

A Princes statement said: “The Fray Bentos brand, business and certain manufacturing assets will be sold by Princes following the acquisition as part of undertakings made by the company to the Office of Fair Trading. Until this divestment takes place, the Fray Bentos business will be run on an independent basis from Princes.

The acquisition includes two major UK canning sites at Long Sutton and Wisbech in East Anglia, along with a number of brands including Crosse & Blackwell, Farrow’s and Smedley’s. Some of Premier Foods’ brands, including Branston and Batchelors, will remain under Premier Foods’ ownership but will be licensed to Princes on a long-term arrangement.

The acquisition significantly expands Princes’ portfolio of branded and customer own label products in the canned foods sector. The products produced at Long Sutton and Wisbech are sold to customers in the retail, food service and industrial sectors.

>Premier sells canned goods business for £182m

>Premier Foods poaches Kraft Foods Europe’s CEO

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