Premier Foods plc Statement re McCormick & Company, Inc.announcement (0256V)
April 13 2016 - 2:03AM
UK Regulatory
TIDMPFD TIDMIRSH
RNS Number : 0256V
Premier Foods plc
13 April 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY (IN WHOLE OR IN PART), IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
THAT JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE A TAKEOVER
OFFER OR AN OFFER OF SECURITIES.
13 April 2016
For immediate release
Premier Foods plc
Premier Foods plc statement re McCormick & Company, Inc.
announcement
The Board of Premier Foods plc ("Premier Foods" or the
"Company") notes the announcement by McCormick & Company, Inc
("McCormick") confirming that it does not intend to make an offer
for the Company. Premier Foods and its advisers have engaged
extensively with McCormick to provide it with the information
requested. The Board appreciates the open and constructive spirit
in which the engagement with McCormick was conducted.
The Board sees a strong future for an independent Premier Foods,
and believes that the foundations have been laid for significant
growth and shareholder value creation.
Premier Foods has a valuable portfolio of market leading brands,
extensive distribution across key retail channels, a well-invested
manufacturing base and strong operational cash flows. Additionally
the Company plans to accelerate its growth by executing its
recently announced new strategic initiatives to leverage the
Company's existing capabilities, infrastructure and brand equity so
as to expand into new formats, channels and markets.
The Board also considers that the Company's longer-term
prospects will be enhanced by the Co-Operation Agreement it has
signed with Nissin Foods Holdings Co., Ltd. which will expand
Premier Foods' range of growth opportunities.
<ends>
For further information please contact:
Premier Foods plc +44 1727 815 850
Richard Johnson (Corporate Affairs Director)
Richard Godden (Head of Investor Relations)
Maitland +44 207 379 5151
Neil Bennett
Kate O'Neill
This information is provided by RNS
The company news service from the London Stock Exchange
END
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