Nestlé in the market for Quorn
Premier Foods has announced it is in advanced talks with two potential suitors regarding the sale of its meat-free business, including Quorn.
It has been reported that Nestlé, the world's biggest food group, are one of the firms to have a hunger for the meat-free division - with suggestions of a 230 million pounds (€270 million) bid.
Premier Foods said there was no guarantee a sale would take place, but confirmed that it has received bids from “a number of parties, including multinational food groups and private equity firms.”
“Discussions are proceeding and are at an advanced stage with two parties," said Premier.
In August, the firm said it was open minded about disposals, provided they delivered shareholder value and accelerated the reduction of net debt – reported in June to be over 1.3 billion pounds (€1.6 billion).
