Premier Foods sale of Brookes Avana
Our client, Premier Foods, has announced the disposal of the Brookes Avana business, comprising RF Brookes chilled foods and Avana Bakeries, to the 2 Sisters Food Group, for a cash consideration of £30 million. In selling this predominantly private label chilled business, Premier Foods has taken an important step in streamlining its portfolio to focus investment behind its leading grocery brands.
A transition service agreement covering IT, Procurement and Technical has been signed enabling Premier Foods to support 2 Sisters while it integrates Brookes Avana. They have also signed manufacturing agreements relating to certain products currently produced by the Brookes Avana business.